Bitcoin Set to Surpass Gold in Market Value, According to SkyBridge Captal Founder

Cryptodnes2024/07/27 09:01

By:Cryptodnes

At the Bitcoin 2024 conference in Nashville, Anthony Scaramucci, founder of SkyBridge Capital, projected that Bitcoin will soon eclipse gold in market capitalization.

Scaramucci argued that Bitcoin should be valued similarly to gold, estimating that Bitcoin could overtake gold’s current $15 trillion-$16 trillion market cap within a decade.

His prediction aligns with earlier forecasts by Anthony Pompliano, who also anticipated Bitcoin surpassing gold in under ten years.

Scaramucci also noted the rising trend of Bitcoin adoption among institutional investors. For example, Wisconsin, Jersey City and Michigan’s state pension funds recently revealed substantial investments in Bitcoin through BlackRock’s and Grayscale’s funds, totaling $164 million.

Binance Sees Surge in Bitcoin Inflows, Potential Price Impact Looms

Additionally, Japan’s Government Pension Investment Fund is exploring Bitcoin as a potential investment, driven by significant economic and technological shifts.

In the corporate sector, DeFi Technologies has joined the trend by purchasing 110 BTC as part of its treasury management strategy.#

This move led to a significant rise in the company’s stock price, highlighting growing interest in Bitcoin among businesses.

SHARE: 0 SHARES

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.