SkyBridge Founder Scaramucci Says Bitcoin Would Reward Patient Investors

Anthony Scaramucci continues to promote the widespread adoption of Bitcoin, emphasizing that investors who are patient would be well rewarded. 

With Bitcoin (BTC) edging close to sealing a position above its all-time high (ATH), Anthony Scaramucci, the founder of SkyBridge and former White House Director of Communication, has made fresh declarations regarding the top asset. 

Patient Investors Will Be Rewarded 

In a recent episode of CNBC’s Last Call business show, Scaramucci speculated that Bitcoin would reward patient investors in the long run. 

“We have 5% adoption of #Bitcoin globally,” says @Scaramucci. “If you stay patient with $BTC and you have it appropriately sized in your portfolio, so you’re not looking at these oscillations, I think you’ll be well rewarded.” pic.twitter.com/elMmBUIISi

— Last Call (@LastCallCNBC) March 6, 2024

According to him, investors who are patient with an appropriately sized portfolio in Bitcoin would be well rewarded in the future. 

“If you stay patient with Bitcoin and have it appropriately sized in your portfolio […] I think you’ll be well rewarded,” he remarked. 

Furthermore, the American businessman shared insight into SkyBridge’s Bitcoin investment. According to Scaramucci, SkyBridge’s investment in Bitcoin in the past two years has been rewarded in the last three or four months. 

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SkyBridge’s Crypto Funds Records Huge Gain

It bears mentioning that 2023 was SkyBridge’s most profitable year since its inception in 2005. The hedge fund saw a substantial gain of 130% in its crypto investments in 2023 alone. Specifically, SkyBridge is majorly invested in Bitcoin, Ethereum, and Solana (SOL). 

The prices of the major crypto assets in SkyBridge’s portfolio have surged massively since December. For instance, Bitcoin rallied from $37,000 on December 1 to over $68,000 earlier this week.  

Scaramucci, who speculated that Bitcoin would surpass its all-time high (ATH) price of $69,044, almost saw his prediction come true on March 5, when BTC price spiked to $68,869 on March 5. 

However, Bitcoin collapsed heavily in the late hours of yesterday, plunging to around $60,000. So far, the market has stabilized from yesterday’s correction as Bitcoin currently changes hands at $66,899.  

Scaramucci Expects Bitcoin Adoption to Surge in the Future 

Meanwhile, Scaramucci suggested that Bitcoin adoption will surge like the internet over the years. The financial expert mentioned that the global adoption of Bitcoin is currently at 5%. 

Per Scaramucci, Bitcoin’s current adoption is similar to that of the World Wide Web in its early days, specifically in March 1999, during the era of Web 1.0. 

Interestingly, the internet has recorded an enormous spike in adoption from 1999 till date, becoming an integral part of everyone’s lives. 

“So I want you to think about what happened from Web 1 1999 to wherever we are today 25 short years later,” he concluded. 

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• Source: https://thecryptobasic.com/2024/03/06/skybride-founder-scaramucci-likens-bitcoin-adoption-to-the-www/?utm_source=rss&utm_medium=rss&utm_campaign=skybride-founder-scaramucci-likens-bitcoin-adoption-to-the-www