Bitcoin Set to Surpass Gold in Market Value, According to SkyBridge Captal Founder
At the Bitcoin 2024 conference in Nashville, Anthony Scaramucci, founder of SkyBridge Capital, projected that Bitcoin will soon eclipse gold in market capitalization.
Scaramucci argued that Bitcoin should be valued similarly to gold, estimating that Bitcoin could overtake gold’s current $15 trillion-$16 trillion market cap within a decade.
His prediction aligns with earlier forecasts by Anthony Pompliano, who also anticipated Bitcoin surpassing gold in under ten years.
Scaramucci also noted the rising trend of Bitcoin adoption among institutional investors. For example, Wisconsin, Jersey City and Michigan’s state pension funds recently revealed substantial investments in Bitcoin through BlackRock’s and Grayscale’s funds, totaling $164 million.
READ MORE:
Binance Sees Surge in Bitcoin Inflows, Potential Price Impact LoomsAdditionally, Japan’s Government Pension Investment Fund is exploring Bitcoin as a potential investment, driven by significant economic and technological shifts.
In the corporate sector, DeFi Technologies has joined the trend by purchasing 110 BTC as part of its treasury management strategy.#
This move led to a significant rise in the company’s stock price, highlighting growing interest in Bitcoin among businesses.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tectonic attacker sends 2,659 ETH to Tornado Cash, capping a record hack year
Korean Stock Market Risks? Goldman Sachs: Retail Investors Have Withdrawn, "Buyback Ammo" Will Be Exhausted by October, Only Foreign Capital Left to Rely On
Data shows that South Korean retail investors’ net buying volume in August plunged by 90% compared to June, with the market barely propped up by stock buybacks from Samsung and SK Hynix. However, Goldman Sachs believes that these last-resort support measures will run out by mid-October! Once the support disappears, the market will face severe shocks, and its survival will be entirely dependent on foreign capital. Prepare for a potential liquidity shock in October.
Crypto prices
More
