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Getting to know Bitcoin exposes its advantages over gold as a store of cash, according to SkyBridge Capital’s Anthony Scaramucci.
According to hedge fund founder Anthony Scaramucci, Bitcoin (BTC) is equivalent to gold if investors have the time to study it.
In an interview with CNBC on March 18, Scaramucci, who is CEO of SkyBridge Capital, reinforced his belief in Bitcoin for mainstream audiences.
Scaramucci on Bitcoin vs. gold: “The world is changing”
With Bitcoin surging in 2021, the question of whether the advances are occuring at the detriment of gold, which has struggled to capitalise on the uncertainties associated with central government money printing, remains unanswered.
When comparing the two properties, Scaramucci left no question as to his preference, stating that gold might have been the prefered option for a store of value for 4,000 years, but nothing is eternal.
“The world is changing — that’s the final record, Joe, the world is changing,” he told host Joe Kernen.
The remarks contradict those who are adamantly opposed to gold, most especially Peter Schiff, who believes that Bitcoin would crash, leaving gold as the only option to avoid the perils of central bank economic policy.
Scaramucci went on to claim that Bitcoin fulfilled the position of money as technology, which is a core point among Bitcoin supporters including “The Bitcoin Standard” author Saifedean Ammous.
“In a lot of ways, if you study it, it’s better than gold. It’s easier to store, you can move it around more quickly, and that value — that trusted network — is growing.”
“And be prudent,” Scaramucci continued. “You don’t have to own a lot of it, but just some of it.”
He also estimates that there are currently around 125 million Bitcoin users, and expects that number to reach 1 billion by 2025.
“The accurate narrative”
SkyBridge made headlines when it announced the opening of a BTC fund in December 2020, at a time when Bitcoin’s price was on a parabolic rise beyond $30,000.
The institutional trend has only intensified since then. Morgan Stanley is the first global bank to sell clients exposure to Bitcoin funds this week.
As previously mentioned, Robby Gutmann, CEO of fund provider NYDIG, hinted that this week would mark the beginning of a flurry of adoption updates that would be “game-changing.”
“Investors are getting hammered by mainstream media with the accurate narrative — bitcoin is superior to gold,” Anthony Pompliano, co-founder of Morgan Creek Digital, replied to Scaramucci, praising his efforts.