Anthony Scaramucci said that technically Bitcoin is still in its early stages of development, and will be considered a high-risk asset until the number of its holders exceeds a billion. According to the businessman’s calculations, this should happen by the end of 2026, if not earlier.
“Given that the US dollar has lost 22% of its value since January 2020, and the price of Bitcoin has risen since then, it would be unfair to assume that BTC is not currently an inflation hedge, even if it is volatile,” said the Skybridge founder.
In response to the claims of Bitcoin opponents that the first cryptocurrency has existed for more than 15 years, and therefore is no longer a new asset, the businessman recalled the Wright brothers, who invented the world’s first airplane. In 1918 there were still critics who believed that the flights would have no commercial value or benefit. Therefore, you should also be patient with Bitcoin and take a “long position” in relation to it, advises Anthony Scaramucci.
Recently, an entrepreneur suggested that Bitcoin could reach $170,000 in this bullish trend, and then the capitalization of the first cryptocurrency would be half the market capitalization of gold.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.