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Saturday, April 13, 2024

Bitcoin Has Become A Good Long-Term Investment: Former Chief Communications Officer at WH

Anthony Scaramucci, former White House communications director and founder of hedge fund SkyBridge made optimistic statements about Bitcoin, calling it ” a good long-term investment.”

While predicting upcoming volatility and correction, Scaramucci believed that the digital asset would only increase in price.

Along with SkyBridge Partner and Chief Operating Officer Brett Messing, Scaramucci claimed that the asset decreased in risk and was as safe as owning bonds and gold. The duo argued:

Increased regulations, improved infrastructure, and access to financial institutions, such as Fidelity, that hold investors’ money, have made bitcoin investments as safe as owning bonds and commodities like gold, which are also available. used to balance portfolios.

In short, bitcoin has matured, although it is still in an early adoption phase, and now offers significant long-term value.

Recently, former Goldman Sachs Senior Chairman Lloyd Blankfein shared his take on how government regulations could get in the way of Bitcoin. The investment banker thinks that in such a case, investors might be able to comply with the new rules, but it would cost them their privacy, a key property that attracts investors to Bitcoin in the first place.

However, according to Scaramucci, the value of the digital asset had strengthened due to increased regulation and scrutiny. In his latest op-ed, Scaramucci said that Bitcoin was a viable hedge against inflation for long-term investors.

Furthermore, the executive believed that Bitcoin’s market capitalization was the strongest indicator of its value:

If we looked at that through the prism of the S&P 500, it would make bitcoin one of the top 10 companies in the world, having gone from zero to half a trillion in just 12 years. Only a few companies, like Facebook and Tesla, have grown that fast.

A month ago, Anthony Scaramucci was planning to launch a new Bitcoin fund – called SkyBridge Bitcoin Fund LP, which could seek “exposure to digital assets.”

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