Thursday, April 22, 2021
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Ethereum To Be a ‘Store of Value,’ According to Skybridge Capital’s Anthony Scaramucci

Skybridge Capital chief and former White House press secretary Anthony Scaramucci says that Ethereum (ETH) will become a store of value asset.

In an interview with CNBC, Scaramucci says that as an institutional investor, he’s mainly focused on Bitcoin (BTC), but sees big things happening for Ethereum in the future.

“I think there’s a very big market for Ethereum and I predict that Ethereum has good fundamentals and will grow, but I’m in an institutionalist sort of business. I think like an institutionalist, and I’ve got to get my clients thinking about cryptocurrency and digital assets. So as a first step, I’m focused on Bitcoin and we only have now a Bitcoin fund.” 

Scaramucci goes on to float the idea of having an Ethereum-focused fund and posits that the world’s second-largest crypto by market cap could end up developing into a store of value.

“Could we have an Ethereum fund in the future? Yes, we certainly could. Everything that you’re saying is true with the non-fungible tokens, and the technology around Ethereum is going to make it a sticky cryptocurrency and a store of value and something that people will transact with.” 

As for Bitcoin, the billion-dollar fund manager highlights that he’s trying to get his clients ready for a generational shift in the world of finance.

“For us, it’s the apex predator of the space, and what I tell my clients is, whether you like it or not, the world is moving into digitization. If you think about gaming, you think about 4k, 8k coming. If you think about our children, what they’re going to be thinking about, they’re very comfortable transacting in Ethereum or Bitcoin, and I’ve got to get my clients ready for that. So if they have a 1%, 2%, or 3% position, I think they’re going to look at us as fiduciaries and think they were very well served by that.”

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