During a recent interview on CNBC’s Squawk Box, Anthony Scaramucci shared his thoughts on the future of cryptocurrency. He expressed that due to its current level of global acceptance, Bitcoin does not function as a store of value or an effective hedge against inflation.
Scaramucci believes that Bitcoin can hit those significant marks once it has amassed a user base numbering in the billions, which he estimates will happen approximately by the year 2026.
Andres Sorkin raised a valid query over the weekend: Why has Bitcoin been decreasing in value if it’s considered an inflation hedge and a store of value? Keep in mind, however, that it doesn’t fully embody these characteristics at its current level of global acceptance. Instead, Bitcoin remains an emerging technological asset.
— Anthony Scaramucci (@Scaramucci) April 16, 2024
Technical Growth and Future Projections
Bitcoins existence dates back over ten years, but Scaramucci believes we’re only seeing the beginning of its development. He draws an analogy to the early days of aviation: it took a long time after the Wright Brothers’ first flight in 1903 for air travel to become commercially viable.
According to Scaramucci, Bitcoin is currently in its early stages of development, meaning its true worth hasn’t been fully recognized yet. Nevertheless, he anticipates that the cryptocurrency will experience significant growth as it grows older and becomes more reliable.
According to Scaramucci’s perspective, Bitcoin holds a promising future with its potential for expansion as more people adopt it and its volatility decreases. This evolution could mirror the path taken by significant historical inventions as they gained widespread acceptance.
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2024-04-16 18:28