SkyBridge Capital’s Anthony Scaramucci expects a pro-crypto presidential candidacy

Anthony Scaramucci, the founding father of the hedge fund SkyBridge Capital, thinks that the subsequent United States presidential candidate will probably be pro-cryptocurrency, on condition that the U.S. Securities and Alternate Fee (SEC) just lately introduced the approval of a fourth Bitcoin (BTC) futures exchange-traded fund (ETF).

Throughout an interview at SALT’s Crypto Bahamas convention, Scaramucci instructed Cointelegraph that he has been bullish on a pro-crypto presidential candidate for the reason that SEC permitted Bitcoin futures underneath the Securities Act of 1933 (‘33 Act) and the Securities Act of 1934 (’34 Act). He added:

“The Congress is indicating that they’re extra crypto-friendly. You now even have 73 million those who personal cryptocurrency. Numerous these individuals are single-issue voters, which is able to flow into by way of Congress. Constructive regulation forward is a prediction from SkyBridge.”

Given this, Scaramucci additionally hopes {that a} Bitcoin spot ETF will probably be permitted by the tip of 2022. “If this occurs, it should pressure all main monetary companies establishments to have a Bitcoin money providing,” he mentioned.

Whereas it’s onerous to foretell the long run, Scaramucci shared that SkyBridge Capital stays forward of most monetary establishments, noting that the hedge fund’s portfolio consists of Bitcoin, Ethereum (ETH) and different layer-1 tokens together with Solana (SOL) and a fund devoted totally to the blockchain protocol Algorand (ALGO).

Scaramucci additional remarked that 20% of his web value is in Bitcoin, whereas 4%–5% is in Algorand’s ALGO token. “I purchased my first Bitcoin in 2020 when the worth was between $12,000 to $16,000, however I’ve additionally purchased BTC when the worth was at $65,000. I’ve made a macro guess on Bitcoin. I in all probability have 1 / 4 of my web value on this stuff.”

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