• Cardano will continue to rise, according to SkyBridge Capital CEO, because it has “great use cases.”

  • Former White House Director of Communications Anthony Scaramucci, founder and CEO of global alternative investment firm SkyBridge Capital (“SkyBridge”), shared his latest thoughts on Bitcoin and altcoins in a recent interview.

    Scaramucci founded SkyBridge in 2005 as a “global alternative investments firm specializing in multi-strategy commingled fund of hedge funds products, custom separate account portfolios, and hedge fund advisory solutions to meet the needs of a diverse range of market participants ranging from individual accredited investors to large institutions.”

    Scaramucci spoke with Peter McCormack for an episode of the “What Bitcoin Did” podcast on December 29, 2020, which was released on January 4, 2021.

    In that interview, Scaramucci said the following about Bitcoin:

    “I enjoy the scarcity feature because no one knows who invented it. That was a brilliant idea by the creators, but there are only 21 million coins in circulation, and so scarcity provides people with this anti-dilutive quality, and it’s also, as you know, about human minds — when something is scarce, people want it…

    “It could reach $280,000 per coin, have a $5 trillion dollar market value, and still only represent half of all gold mined in our global society, and I and I believe it has a long way to go here… You now have a once-in-a-lifetime opportunity to get in before the institutions. Institutions are on their way. Could this be a $100,000 coin at the end of December 31, 2021? “I believe it is possible….“

    Last Wednesday (September 8), he had more to say about the cryptocurrency market in an interview with Andrew Ross Sorkin, co-anchor of CNBC’s “Squawk Box.”

    Scaramucci stated,

    “It felt like it was peaking as a result of the El Salvador news, and a lot of leverage blew out… within the last 48 hours Having said that, demand and fundamentals for items such as Bitcoin continue to improve. Every day, there are new stories about more wallets, more activity, and the possibility of an ETF (exchange-traded fund) – at least a Bitcoin futures ETF – and so I remain optimistic for the end of the year…”

    In terms of altcoins in particular, he stated:

    “There is a lot of exciting stuff going on in this space… As more digital applications emerge, some of those altcoins, such as Algorand or Cardano, or even Ethereum, will continue to rise because they have practical applications.“

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