Here’s why Ethereum has a “very wide demand.”

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Although Anthony Scaramucci, the Founder of SkyBridge Capital, has been “singularly focused” on Bitcoin, he recently unveiled his thoughts on Ethereum in a recent interview. According to the former White House Communications Director, the biggest altcoin has a “very wide demand.” He predicted that the network of the coin has “solid fundamentals and will expand.”

Scaramucci also said that SkyBridge “certainly will” have an Ethereum-focused fund in the future. In terms of why he likes Ethereum, the executive mentioned the increasing interest in NFTs focused on Ethereum and the technology that surrounds it. He continued, saying:

“The technology around Ethereum is going to make it a sticky cryptocurrency and a store of value and something people will transact with. I do like Ethereum… I am positive on Ethereum.”

However, he claims to be in the “institutionalist business,” that he “thinks like an institutionalist,” and that his “first step” is to concentrate on Bitcoin.

Scaramucci’s interest in Bitcoin may have grown deeper after Skybridge Capital launched a Bitcoin fund that expanded in tandem with the cryptocurrency rally. During November and December of last year, the company spent approximately $310 million in Bitcoin, and the investment rose to $360 million dollars within the first few weeks.

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Since the real challenge is exposing new customers to cryptocurrencies, Scaramucci would like to concentrate on Bitcoin for the time being. Furthermore, as the asset’s widespread visibility has increased, he believes that this idea will help him transition his 26,000 clients from having no exposure to crypto to having at least one, such as Bitcoin.

Scaramucci has already unveiled his Bitcoin pitch in order to get prospective investors to participate in the cryptocurrency. In an interview with CNBC, he stated:

“For us, it’s [Bitcoin’s] the apex predator in the space. I tell my clients whether they like it or not, the world is moving into digitization.

If they have a 1, 2, or 3% position they’re going to look at us as fiduciaries and think they were very well served by that. “

 

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