Despite the fact that Bitcoin has now retraced heavily from this year’s highs, many analysts and investors consider this cryptocurrency to be grossly undervalued. Among them is Anthony Scaramucci, founder of hedge fund Skybridge Capital. According to him, the main cryptocurrency of the world may well replace gold, but volatility will have to be reconciled.
«I will note that Bitcoin is still growing, so it did perform very well this year.“- said Scaramucci in an interview with CNBC. He also noted that Bitcoin is still in the early stages of implementation and may act as a “replacement” for gold.
The Scaramucci Hedge Fund values the cryptocurrency’s upside potential, so it should come as no surprise that he bought Bitcoin worth “about $ 500 million“. According to Scaramucci, the research department of Skybridge Capital expects the number of Bitcoin users to increase from the current 125 million to 1 billion by 2025.
«Think of the telephone system in the early 1900s, when people started buying phones and connecting to each other.“, – he said. “Here’s what’s happening with Bitcoin right now».
«I am sure that in a year or two we will be sitting here talking about this volatility, but we will also be surprised by the upward trajectory of Bitcoin in the next 24 months.“, – concluded Scaramucci.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
