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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Dec 12, 2023 05:36 UTC
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Bitcoin Spot ETF: Anthony Scaramucci Predicts January Approval for “Digital Gold”
Scaramucci's crypto funds, including Bitcoin, Ethereum, and Solana, have surged by 130% this year.
Scaramucci anticipates a potential Bitcoin ETF approval by the SEC in January 2024.
Scaramucci recommends a 1-3% investment in Bitcoin, highlighting its unique lack of correlation to traditional assets
In a fascinating chat with BNN Bloomberg, Anthony Scaramucci, the brains behind SkyBridge, spills the beans on the ups and downs of his crypto-focused funds, featuring Bitcoin, Ethereum, and Solana. Get ready for a ride through the crypto world as Scaramucci shares insights into the present and future of digital currency.
Excited? Dive in!
SkyBridge’s Stellar Performance
SkyBridge’s crypto funds are on fire, boasting an impressive 130% growth this year. Fueled by investments in Bitcoin, Ethereum, and Solana, this outstanding achievement steals the spotlight, overshadowing the more conservative 25% growth of the company’s diversified core fund. This stark difference highlights how digital assets play a huge role in the firm’s overall performance.
Despite regulatory talk, Scaramucci stays hopeful about a potential Bitcoin ETF approval by the SEC, expecting a groundbreaking decision as early as January 2024. Unfazed by regulatory challenges, he’s confident in Bitcoin’s resilience and untapped growth, positioning it as a game-changer in the financial scene.
Investment Wisdom
Inspired by Warren Buffet, Scaramucci advises individual investors to embrace the Bitcoin paradox. Suggesting a strategic allocation of 1-3%, maybe up to 5%, he emphasizes Bitcoin’s unique lack of connection to traditional assets like stocks and bonds. A beacon in times of modest S&P returns, Bitcoin emerges as a powerful player in the investment arena.
In a poetic nod to crypto enthusiasts, Scaramucci calls Bitcoin the digital gold, weaving a story around its current market value and untapped growth potential. Keeping tradition in mind, he suggests that for Bitcoin to be the digital gold, its market valuations should match traditional gold’s glittering worth.
What Does the Future Look Like for Bitcoin?
Looking back at past predictions, Scaramucci sticks to his belief in Bitcoin’s upward journey, imagining a future where it hits $100,000. This bold projection envisions Bitcoin becoming a colossal $4 trillion asset, echoing the $10 trillion valuation of gold. But he doesn’t forget to caution investors about its volatility, stressing the need for strategic patience in the thrilling yet unpredictable world of cryptocurrency.
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