Getting to know bitcoin shows that it has many benefits over gold as a store of value, according to SkyBridge Capital’s Anthony Scaramucci. Bitcoin is said to be superior to gold if the investors take some time to study it. While speaking in an interview with CNBC on March 18, Scaramucci reinforced his thoughts and belief in bitcoin for mainstream audiences.
The World Is Changing
With bitcoin exploding in 2021, questions have continued to be asked about whether the gains are coming at the expense of gold. The precious metal has so far failed to capitalize on risks that come with global government stimulus packages that involve money printing.
Comparing gold and bitcoin, Scaramucci left no doubt to his preference, saying that gold may have been the choice for a store of value for over 4,000 years, but nothing lasts forever. He added:
“The world is changing — that’s the final record, Joe, the world is changing.”
These comments come flying in the face of the staunch gold proponent, Peter Schiff, who is still convinced that bitcoin will fail and leave gold as the only choice to escape the perils of central bank economic policies.
Scaramucci also insisted that bitcoin has fulfilled the role of money as technology, which is an integral argument among many bitcoin proponents like “The Bitcoin Standard” author Saifedean Ammous.
“In a lot of ways, if you study it, it’s better than gold. It’s easier to store, you can move it around more quickly, and that value — that trusted network — is growing. And be prudent, You don’t have to own a lot of it, but just some of it.”
He also said that there are currently almost 125 million bitcoin users, and projects that number to surpass 1 billion by 2025.
The Perfect Narrative
SkyBridge made the news headlines when it unveiled its bitcoin fund in December 2021, at a time when bitcoin’s price was in the middle of one of its parabolic surges towards $30K. Since then, the institutional trend has just accelerated. Morgan Stanley is the first major bank to offer its clients exposure to bitcoin funds.
As previous reports indicated, the CEO of fund provider NYDIG, Robby Gutmann, highlighted that this week might form the start of a slew of adoption announcements that would be ‘game-changing’ in nature.
The co-founder of Morgan Creek Digital, Anthony Pompliano, responded to Scaramucci:
“Investors are getting hammered by mainstream media with the accurate narrative — bitcoin is superior to gold.”