- Skybridge founder believes Bitcoin is a better asset than Gold.
- No more skepticism regarding the coin’s top position in the market.
The founder of Skybridge thinks BTC is way better than Gold, and he spoke to Forbes about his few strong points to back his views up. Skybridge is an investment firm focused on alternative investment options as opposed to the traditional system.
He was initially skeptical
First off, Scaramucci isn’t shy to admit that he, along with his term of experts at Skybridge, were a bit skeptical of Bitcoin when they started their research. But this stance seems to have changed dramatically as they uncovered evidence that the top coin is indeed a viable investment option. Scaramucci said that he had to approach the whole BTC matter with the mindset of a skeptic like Warren Buffet and give the coin a fair chance to convince him otherwise.
Scaramucci’s current stance on BTC is testament to the power of Bitcoin. Despite approaching and researching Bitcoin investment possibilities from various critical angles, the results seem to have dispelled all the lingering doubts that had made him a skeptic in the first place. He’s now a budding BTC proponent and his firm is already onboard with crypto investments.
What really changed his mind?
According to Scaramucci, BTC has positioned itself as the master of the crypto market, and that’s despite numerous other well-funded blockchain projects entering the market. So far, none has managed to topple BTC from its top position. The Bitcoin market is actually way larger than the rest of the market combined. It currently boasts a whole 60% market dominance, with its total market cap expected to reach $1 trillion in the future.
How is Bitcoin better than Gold?
The Gold market has been a bit of a blood bath of late. Gold has lost around 8% in value over the last few weeks. Within the same period, Bitcoin has gained close to 15%. Indeed, even the Peter Schiff, who has been ardent supporter of Gold against Bitcoin, agrees that his side is losing.
He attributes this to the big holders out to punish the small holders. In this case, Bitcoin stands as the better store of value, and many have already expressed optimism that the top coin could soon dethrone gold.