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Anthony Scaramucci Admits Bitcoin Is Better than Gold As Adoption Grows

SkyBridge Capital’s Anthony Scaramucci has admitted that Bitcoin is better than gold if investors take the time out to study it.

The hedge fund manager made this known in an interview with CNBC on March 18. Scaramucci who is the CEO of SkyBridge Capital admitted that, although gold may have been the choice for a store of value for over 4,000 years, he believes that nothing is forever.

He told the host, Joe Kernen, that:

The world is changing — that’s the final record, Joe, the world is changing.

Scaramucci’s comment is in sharp contrast to gold evangelist, Peter Schiff, who remains convinced that Bitcoin will fail, leaving gold as the sole choice to escape the perils of central bank economic policy.

The investment manager also noted that Bitcoin meets the conditions of money as technology. Hence, it is a far better option to gold. He told Joe:

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 to be prudent, you don’t have to own a lot of it, but just some of it.

Scaramucci estimated that there are around 125 million Bitcoin users around the world, right now. He believes that the number would reach 1 billion by 2025.

Earlier, SkyBridge Capital made the headlines in December 2020 when it launched its BTC Fund. A move that occurred when Bitcoin was witnessing a parabolic surge towards $30,000.

Adoption grows as Morgan Stanley launches crypto services

Investment bank Morgan Stanley has said that it will offer its wealthy clients access to Bitcoin funds. This makes the bank the first leading bank in the US to make such move.

The investment bank will be working with Galaxy Digital, FS Investments and Bitcoin company NYDIG to offer the services. Galaxy Digital CEO Mike Novogratz tweeted about it. He said:

Galaxy is thrilled to partner with Morgan Stanley, the first US bank to offer Wealth Management clients access to Bitcoin funds.

Morgan Stanley currently manages over $4 trillion for its clients, and its entry into Bitcoin (BTC) could be huge for the crypto market.

As Bitcoin adoption grows, a recent study by Harris Poll on behalf of Yahoo Finance also showed that 15% of those who received the last two rounds of stimulus checks directed some of the money towards investment. Of that group, around half invested in cryptocurrencies like Bitcoin specifically.

It is expected that the number of recipients who plan to invest some of their checks will increase to 17% this time, as the more stimulus checks go out at the end of March. While the overall number of crypto buyers will remain fairly stable, at 41% of the would-be investor group.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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Published under: Bitcoin

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