At the Bitcoin 2024 conference in Nashville, SkyBridge Capital founder Anthony Scaramucci made a bold prediction about the future of Bitcoin. Reiterating his advice to buy, Scaramucci forecasted that Bitcoin would soon surpass gold in market value. He argued that Bitcoin should be valued similarly to gold and predicted that Bitcoin could exceed gold’s current market value of $15 trillion-$16 trillion within a decade.
Experts Agree
Scaramucci’s prediction aligns with earlier forecasts by another prominent figure in the cryptocurrency world, Anthony Pompliano. Pompliano also predicted that Bitcoin would surpass gold within the next decade.
One of the key factors fueling this optimistic outlook on Bitcoin is its increasing adoption among institutional investors. Scaramucci highlighted recent significant investments in Bitcoin by the Wisconsin, Jersey City, and Michigan state pension funds. These investments, totaling $164 million through BlackRock and Grayscale funds, indicate a significant shift in how institutional investors view Bitcoin as a viable investment.
State Pension Funds Turn to Bitcoin
In addition to state pension funds, Japan’s Government Pension Investment Fund is also exploring Bitcoin as a potential investment. The consideration by one of the world’s largest pension funds further strengthens the growing institutional acceptance of the cryptocurrency. This interest stems from notable economic and technological changes that make Bitcoin an attractive asset.
The corporate sector is also showing increasing interest in Bitcoin. For example, DeFi Technologies incorporated Bitcoin into its treasury management strategy by purchasing 110 BTC. This strategic move led to a significant rise in the company’s stock price, highlighting the growing trend of businesses adopting Bitcoin as part of their financial strategies.
Once a cryptocurrency that only attracted individual investors, Bitcoin is now on the radar of the world’s largest financial players. Anthony Scaramucci’s predictions strongly indicate how Bitcoin could create a significant impact in the financial world.
