SkyBridge Capital founder Anthony Scaramucci said he maintains his long-term optimism for Bitcoin and explained five main reasons why he remains bullish on BTC.
According to Scaramucci, the most important characteristic of Bitcoin is that its value cannot be diminished by any government. Arguing that the 21 million Bitcoin supply limit is guaranteed by code and not promises, Scaramucci says this forms the basis of his Bitcoin thesis in a world burdened by $37 trillion in debt.
Scaramucci argued that the recent decline was not due to a collapse in Bitcoin’s fundamental momentum, but rather selling pressure resulting from miners selling to cover their costs and the unwinding of leveraged positions.
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Scaramucci also said that the institutional infrastructure built for Bitcoin since 2024 will not disappear just because the price has fallen. According to Scaramucci, this structure, consisting of spot ETFs and institutional access channels, provides a sustainable foundation for the Bitcoin market.
Noting that Bitcoin has a market cap of around $1.3 trillion, compared to gold’s $29 trillion, Scaramucci said that even if Bitcoin took on just 10% of gold’s role, it would lead to a price increase that would not just be percentage-based, but exponential.
*This does not constitute investment advice.
