In an unprecedented development, Bitcoin (CRYPTO: BTC) surged past the $100,000 mark last week, a first in its history. This milestone comes amidst a climate of regulatory speculation and the ripple effects of President-elect Donald Trump‘s victory.
What Happened: In a recent interview, Anthony Scaramucci, founder of Skybridge Capital, discussed the evolving landscape of cryptocurrency regulation and the future of Bitcoin.
Scaramucci, who has a substantial personal investment in Bitcoin, told Yahoo Finance, “I have a lot of my personal net worth in Bitcoin because I’m not looking at it and not tracking it day to day. But this milestone is important because I think it tells people that Bitcoin is probably ready now for prime time institutional investing.”
“There are 85 million people in this country that own crypto in one form or another. There are 65 million dog owners, so you have more crypto owners than you have dog owners,” Scaramucci said.
“So, I think the Biden administration is looking at polling data and recognizing that younger people, Hispanic community, African-American community are in crypto. You guys really want to go that hard against crypto, I don’t think it makes sense from electoral perspective,” he added.
Also Read: Scaramucci on Trump Deportation Plan: ‘We’re Going To Have a Stock Market Crash’
Scaramucci also shared his thoughts on Trump’s appointment of Paul Atkins as the new SEC Chair. “I do like it. I’ve known Paul a long time. He’s a libertarian by nature,” he said.
Scaramucci went on to underscore the growing acceptance of crypto, pointing out that there are now more crypto owners in the US than dog owners.
Why It Matters: The meteoric rise of Bitcoin, coupled with the ongoing regulatory discussions, underscores the increasing significance of cryptocurrencies in the global financial landscape.
As Scaramucci pointed out, the surge past $100,000 could signal that Bitcoin is ready for mainstream institutional investment.
Furthermore, the appointment of a libertarian-leaning SEC Chair could potentially lead to a more favorable regulatory environment for cryptocurrencies.
This development, along with the growing popularity of crypto among the US population, could pave the way for further growth and acceptance of cryptocurrencies in the future.
Read Next
Scaramucci On Trump Win: ‘I Got It Wrong, I'm Not Going To Whine About It'
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
