Anthony Scaramucci, former White House communications director and founder of investment firm SkyBridge Capital, said Bitcoin could succeed smoothly at $100,000 over the next 12 months as more corporations and fund managers adopt it.
In an interview with Yahoo Finance on Wednesday, Scaramucci said he would advise investors to move cash they don’t want in the short term to Bitcoin. Bitcoin, he said, has a great future.
Scaramucci has already criticized Bitcoin but has done so from a believer. Last month, SkyBridge unveiled its Bitcoin Fund LP with a capital of $25 million. The fund’s minimum subscription duration is $50,000 and is about to exceed $100 million in assets under control (AUM), the founder told Yahoo. The company began making an overdue Bitcoin investment last year, and SkyBridge now has less than $500 million in Bitcoin for all its investments.
Scaramucci said that fund managers would soon be “compared to Bitcoin” and that some percentages of that amount would be connected to the virtual currency. “So if you’re not going to be a Bitcoin investor, you’re running out of Bitcoin,” he added, noting that the dominant cryptocurrency has advanced in the functionality of its fund that was affected at the beginning of the coronavirus pandemic.
“The SkyBridge Series G fund has gone up 33% since April 1, and that, frankly, is the Bitcoin movement we benefited from in the fourth quarter last year,” Scaramucci told Yahoo.
For him, Bitcoin will simply work. In an earlier interview, he said that the GameStop fiasco shows that Bitcoin is going to work. “How are you going to beat the decentralized crowd? For me, it’s more of a statement on decentralized finance,” he added.
Bitcoin had its highest close on Thursday at $47997 on Coinbase.
In this photo, Anthony Scaramucci Tommy Lasorda’s 90th birthday party in the Getty Center in Los Angeles, California, September 24, 2017 Photo Credit: Getty Images / Phillip Faraone