• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

How Bitcoin is demonetizing gold, Skybridge Capital’s founder makes the case

Reynaldo Marquez by Reynaldo Marquez
4 weeks ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
bitcoin trillion dollar market cap

Golden bitcoins on grey background

Advertisement

Anthony Scaramucci predicted Bitcoin’s price will absorb some of the increase in dollar volume. In an interview for CNBC’s Squawk Box program, the Skybridge Capital founder said the stimulus package passed by the administration will be good for BTC holders.

Every time we do this, it’s very, very good for the people who own the assets. You get tremendous amounts of asset inflation. But the wages never catch up. That gap gets wider. And then the politics get angrier.

Scaramucci sees BTC as a long-term hedge against inflation. The security of the blockchain, BTC’s supply and demand dynamics, and limited supply make the cryptocurrency an attractive asset for institutions like Morgan Stanley in “a world printing money like this”.

Skybridge Capital founder’s said Bitcoin has outperformed gold after absorbing a percentage of investor’s capital. Therefore, Bitcoin has become a better asset to store value than gold. Scaramucci claimed:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

In a lot of ways if you really study it, it’s better than gold. It’s easier to store. You can move it around more quickly (…). Money is a technology that allows us to transfer good and services to each other effectively. The technology around us will likely improved money. Bitcoin has done that.

Bitcoin BTC
Bitcoin outperforming gold since 2012. Source: BTCUSD/XAUUSD Tradingview.com

Bitcoin in a transition period

As a store of value, Scaramucci thinks Bitcoin’s price will lose volatility as adoption increases. Making another prediction, he expects Bitcoin’s network to go from 125 million users today to 1 billion in the next five years.

Scaramucci’s firm started a Bitcoin fund late in 2020 with a $25 million investment. His bet on the cryptocurrency comes at a “period of transition”. He compares Amazon’s stock price to BTC and argues that the cryptocurrency is going on a “less speculative” trajectory. The fund manager believes all “prudent investors should own some” BTC. He added:

Amazon now, 20 years later, is trading with more stability. It got a very big pop because of the pandemic, but just take a look at its long-term chart, and I think that will happen to bitcoin. Once it fully scales, … you’re going to be looking at that situation and saying, ‘OK, it’s way less speculative’.

Eventually, the fund manager expects the cryptocurrency to be a fully mature store of value. By becoming a decentralized alternative to the U.S. dollar, its adopter will own an uncorrelated asset with global politics. Skybridge Capital’s founder concluded:

Bitcoin got to a $1 trillion faster than all those companies, primarily because it’s decentralized, so now you’re taking all that C-suite drama and all the politics associated with it, away from it. It’s a fully scaling, monetary network and store of value and it’s going to get there over the next 15 years.

Tags: bitcoinbtc
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Ripple XRP XRPUSDT

XRP Above $2? Why DeFi Integration Could Be Game Changer

30 mins ago
Binance Coin Coinbase IPO

Coinbase Listing Sends Binance Coin (BNB), Exchange Tokens Soaring

34 mins ago
Bitcoin BTC BTCUSD

Bitcoin Funding Flips Bullish, But Are Liquidations Imminent?

2 hours ago
legal challenges

What Are the Legal Challenges That Crypto Faces and the Way Out?

2 hours ago
Fed Chair Says Still “Working on” Digital Dollar as China Pulls Ahead

Fed Chair Says Still “Working on” Digital Dollar as China Pulls Ahead

5 hours ago
Bitcoin Price To Hit $70,000 by April-End? This Analyst Thinks So

Bitcoin Price To Hit $70,000 by April-End? This Analyst Thinks So

7 hours ago

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.