Anthony Scaramucci, the CEO of SkyBridge Capital and former White House Communications Director under Donald Trump, has expressed his interest in buying spot Bitcoin (BTC/USD) ETFs. This comes after the recent approval by the SEC for the creation of these ETFs.
Scaramucci, in an interview with CNBC, stated that the approval of Bitcoin ETFs is a significant moment for the cryptocurrency. He attributed the approval to the substantial growth of his New York-based hedge fund in 2023, following a challenging year in 2022.
He also noted that the SEC’s decision to allow the creation of Bitcoin ETFs has opened up the cryptocurrency to a wider audience, marking a significant step in its mainstream financial adoption. Scaramucci predicts that Bitcoin could reach its all-time high later this year and surpass it by next year. The previous all-time high for Bitcoin was recorded at just under $69,000 in November 2021.
When asked if he would personally invest in the ETF, Scaramucci confirmed that he would be a ceremonial buyer. This indicates his confidence in the potential of Bitcoin and the value he sees in investing in these ETFs.
The approval of Bitcoin ETFs by the SEC is seen as a landmark event in the adoption of cryptocurrency by mainstream finance. It is expected to revolutionize both the cryptocurrency and traditional finance sectors. This decision is seen as a significant step in the legitimization of Bitcoin and a sign of increasing acceptance of cryptocurrencies by the financial establishment.
However, Scaramucci highlighted that the SEC’s approval does not explicitly endorse Bitcoin. Nevertheless, the decision to allow Bitcoin to be offered to retail investors with a prospectus is a significant step forward.
The approval of Bitcoin ETFs comes after Scaramucci’s prediction in December 2023 that the Bitcoin Cash ETF could be approved by the SEC. This further emphasizes his understanding of the potential of cryptocurrencies and their integration into mainstream finance.
Overall, Scaramucci’s interest in buying spot Bitcoin ETFs reflects the growing confidence in the cryptocurrency market and its potential for significant growth. With the SEC’s approval, Bitcoin is gaining more recognition and acceptance from the financial industry, paving the way for further adoption and investment opportunities.
