Sovereigns Are Buying Billions Of Bitcoin, Says Anthony Scaramucci

Bitcoin has surpassed $100,000 for the second time, fueled by institutional interest. Anthony Scaramucci, founder of SkyBridge Capital, revealed that sovereign wealth funds are already accumulating Bitcoin. These funds are expected to significantly increase their holdings once US regulations are clarified. Scaramucci believes this is a response to global economic uncertainties and erratic policies. He sees Bitcoin as a hedge against currency risks, similar to gold's role. He predicts that official portfolios could allocate 1-3% to Bitcoin, driving its market cap higher. Bitcoin's resilience during recent market downturns supports its "digital gold" status. Scaramucci's fund has benefited greatly from its Bitcoin investments, outperforming benchmarks. He anticipates younger investors will increasingly view Bitcoin as a long-term asset. Widespread adoption relies on US regulatory clarity, which would trigger large-scale buying. Even incremental purchases from large institutions can have a substantial impact on the market. Scaramucci is very optimistic about Bitcoin's future due to its potential and the current market dynamics.