The founder of Skybridge Capital responded to critics’ concerns about Bitcoin, who claim that amidst the military conflict in the Middle East, Bitcoin has been ‘losing ground.’ Anthony Scaramucci stated that technically Bitcoin is still in its early stages of development and will be considered a high-risk asset until the number of its holders exceeds one billion. According to the businessman’s calculations, this should happen by the end of 2026, if not earlier.
In response to opponents of Bitcoin who argue that the first cryptocurrency has been in existence for over 15 years and therefore is no longer a new asset, the businessman reminded them of the Wright brothers, who invented the world’s first airplane. In 1918, there were still critics who were confident that flights would have no commercial value or benefit. Therefore, with Bitcoin, it is also worth being patient and taking a ‘long position’ towards it, advises Anthony Scaramucci.