Anthony Scaramucci, founder of investment firm SkyBridge Capital, comments on Turkey’s decision to ban cryptocurrencies and proposes a bullish case for Bitcoin (BTC).
In a new interview on CNBC’s Squawk Box, Anthony Scaramucci acknowledges that some regions with volatile currencies, such as Turkey, may not be ready for Bitcoin to enter their market, as evidenced by the recent ban on Turkey’s asset.
‘I do understand that these sovereign wealth funds and so on are not ready yet. You’ve seen what’s going on in Turkey. They have announced that they will ban the use of crypto in Turkey.
This can happen in other places where the currencies are volatile, and they do not want the introduction of Bitcoin to be a trading resource for their citizens. They feel it will take away the policies of their central banking community and the politicians. ”
While areas like Turkey may not be willing to embrace crypto completely, Scaramucci believes this is not necessarily a clumsy sign.
In the ruling, the founder of SkyBridge also refers to the assertion of Larry Fink, founder of BlackRock, that institutional clients may not yet be interested in crypto-assets, which indicates that, together with Turkey’s ban on crypto-payments, a bearish case for the royal coin actually spelled out indicates that BTC is still only at an early stage and has much more room to grow.
‘If you look at the model to flow and you look at the scarcity of Bitcoin as an example, if it’s true what Larry says, then it’s going to make Bitcoin even stronger, which means they’ll start adopting it at some point. They are not there yet. The level of satiety is just not as high as people in the coinage think. ”
This week, Fink told CNBC that although he is fascinated by Bitcoin and cryptocurrencies, he and his firm have not yet adopted widespread introduction of digital assets.
‘I’ll tell you about our investors worldwide … we do not have that many questions about it. We invest in it. Rick Rieder has been in your program and talked about things we do in it. And we study it …
There are components in the financial markets about crypto that are real, that are growing. But if you ask me specifically about long-term investment from sovereign wealth funds, from pension funds, from retirement services, from large family offices, the conversation about crypto is a very small conversation compared to so many other conversations.
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