More companies should be holding bitcoin on their balance sheet due to the explosive growth of the U.S. monetary supply, former White House Communications Director and hedge fund founder Anthony Scaramucci said on CoinDesk TV.
- In a wide-ranging interview, the founder of SkyBridge Capital on Friday called the increase in the money supply a “silent tax on American savers.”
- “A responsible CFO or responsible treasurer will have to think about other assets to hold as a potential story of value for their companies.”
Also in the interview:
- The reason he’s so bullish on bitcoin is that it’s a “solution” to the undercutting of the Bretton Woods agreement that back in the early 1970s. Bitcoin has the potential to “start to standardize money again and that will be better for the working poor and the middle class.”
- Because of this, bitcoin could quite possibly one day be the currency of the world someday unless the U.S. dollar becomes digitized and is “no longer going to be influenced by politicians and policymakers.” But that would need to happen quickly, he said.
- SkyBridge now holds more than $600 million in bitcoin.
- Asked he if sees SkyBridge having an Ethereum-based product some day, Scaramucci said “Yes, I see that happening.
- Asked if he’s looking at decentralized finance, Scaramucci said, “Yes, so stay tuned.”
- He’s even more optimistic about the price of bitcoin than his year-end prediction of $100,000 would indicate but won’t change his forecast to avoid making this clients think he’s crazy. “I think they’ve grown to think that I am nuts.”
- His foray into politics has hurt him with both Republicans and Democrats but if his fund keeps performing it will cease to matter, noting his core fund is up almost 40% since last April and up 12 1/2% year to date. “I think if we continue to perform like that I think people are going to become indifferent to my political views.”
- Scaramucci registered SkyBridgeBitcoin.com the day after he was fired from the White House.
- He likes bitcoin at $20,000, $30,000 more than he liked it at $400 “because of the scaling nature of it.”
- He’s less worried about former U.S. President Trump’s negative views on bitcoin than he is about U.S. Treasury Secretary Janet Yellen, U.S. Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde all of whom have said negative things about bitcoin.
Asked he if sees SkyBridge having an Ethereum-based product some day, Scaramucci said “Yes, I see that happening.