Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The founder of the investment firm SkyBridge Capital, Anthony Scaramucci, has drawn a comparison between Bitcoin and the US dollar, asserting that the leading cryptocurrency meets all the criteria of a monetary system.
Scaramucci pointed out that a dollar bill is composed of linen and cotton, yet people utilize it due to their trust in it. In contrast, Bitcoin has established its own decentralized trust system over its 16 years of existence.
The head of SkyBridge Capital highlighted the increasing involvement of major financial institutions in the cryptocurrency market. He cited the example of the American bank Morgan Stanley, which recently launched a spot exchange-traded fund (ETF) on the NYSE Arca. Goldman Sachs has also submitted an application to the U.S. Securities and Exchange Commission (SEC) for the launch of the Goldman Sachs Bitcoin Premium Income ETF.
Related Posts
Scaramucci noted that Bitcoin is becoming a component of investment portfolios for both individuals and institutions globally. He reminded that the supply of the first cryptocurrency is capped at 21 million coins, indicating its scarcity.
In comparison to gold, Bitcoin is significantly easier to transfer and store, the businessman emphasized. He believes that Bitcoin fulfills all monetary characteristics, meaning it can serve as a medium of exchange, a store of value, and a unit of account. Therefore, Scaramucci has confidence in the future of the leading cryptocurrency.
According to the payment provider Coingate, Bitcoin ranked first among cryptocurrencies used for payments, accounting for 44% of all transactions from 2014 to 2025. A February report from the platform CoinLaw indicated that 39% of American merchants accept cryptocurrency payments, with 2,300 organizations directly accepting Bitcoin.
Previously, Scaramucci explained the psychology behind the bearish trend in the cryptocurrency market, urging investors to continue purchasing Bitcoin. He suggested that the emergence of meme coins associated with U.S. President Donald Trump’s family in January 2025 negatively impacted the crypto market.
