Anyone who studies Bitcoin ends up investing in it, says Scaramucci
According to Anthony Scaramucci, CEO of SkyBridge Capital, understanding Bitcoin will lead to greater adoption.
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According to SkyBridge Capital founder Anthony Scaramucci, Bitcoin (BTC), is a cryptocurrency that can be convinced investors to invest in it.
In an interview with CNBC’s capital Connection on Monday, Scaramucci – who also served as President Donald Trump’s communications director for 10 days – urged investors to do their homework about Bitcoin and understand what it was. He also recommended that investors read the whitepaper written anonymously by Satoshi Nakamoto.
Scaramucci stated that understanding Bitcoin will lead to greater adoption, as prominent investors around the globe realize its potential.
“Anyone who does their homework will end up investing in it.” Ray Dalio is a Bitcoin skeptic who is now an investor in Bitcoin.
He also mentioned that Paul Tudor Jones, a world-renowned investor, and Stanley Druckenmiller, an American billionaire, had also purchased Bitcoin. He said, “These are brilliant men who did their homework and came to the conclusion that they had to own Bitcoin.”
Scaramucci pointed out that Bitcoin’s growth has exceeded 100,000% since January 2009, when it was first launched. “If you had one dollar in Bitcoin and 99c in cash in the past decade, you would outperform everything.” Think about it,” Scaramucci said.
Scaramucci’s remarks come as Bitcoin sits near its new all-time highs recorded last week, with BTC trading at $63,277 at the time of writing, according to data from CoinGecko. On Wednesday, Bitcoin hit above $67,000 for the first time in its history. The cryptocurrency was trading around $13,000 just one year ago.
A number of big-name investors around the world claim that Bitcoin is not particularly easy to use. According to major crypto industry investor Tim Draper, Bitcoin’s lack of ease of use is the main impediment to the mass adoption of cryptocurrency. American billionaire entrepreneur Mark Cuban argued last year that Bitcoin needs to be easy enough that “Grandma can use it” before the mass adoption will occur.
