Anthony Scaramucci, the CEO of SkyBridge Capital and Donald Trump-Era White House Communications Director, expressed that he wishes to buy spot Bitcoin BTC/USD ETFs. His comments appeared shortly, on Wednesday, after the SEC gave a green light for the creation of spot Bitcoin ETFs.
What Happened: Scaramucci, speaking to CNBC’s Arjun Kharpal in St. Moritz, Switzerland on Thursday, indicated that the approval of the ETFs is a pivotal moment for the cryptocurrency. He credited the approval for the significant growth in his New York-based hedge fund in 2023, which had previously experienced a challenging year in 2022, reported CNBC.
Scaramucci further noted that the SEC’s decision to allow the creation of Bitcoin ETFs has opened up the cryptocurrency to a wider audience, marking a significant step in its mainstream financial adoption. He predicted that Bitcoin could reach its all-time high later this year and surpass it by next year. Bitcoin’s previous all-time high was recorded at just under $69,000 in November 2021.
When asked if he would personally invest in the ETF, Scaramucci confirmed, “I will be, yes. I’ll be a ceremonial buyer.”
Why It Matters: This news comes after Scaramucci predicted in December 2023 that the Bitcoin Cash ETF could be approved by the SEC during the same week. The approval of Bitcoin ETFs has been perceived as a landmark event in the adoption of cryptocurrency by mainstream finance.
Furthermore, the SEC’s approval of these ETFs is expected to revolutionize both the cryptocurrency and traditional finance sectors. The decision has been seen as a significant step in the legitimization of Bitcoin and a sign of increasing acceptance of cryptocurrencies by the financial establishment.
Despite the SEC’s approval, Scaramucci highlighted that the regulatory body is not explicitly endorsing Bitcoin. Nevertheless, the decision to allow Bitcoin to be offered to retail investors with a prospectus is a significant step forward.
Photo by World Economic Forum on Flickr