Anthony Scaramucci, founder of SkyBridge, discusses the potential for significant purchases of Bitcoin by Sovereign Wealth Funds (SWFs) once clearer regulations are established in the United States. He believes that while these funds are already acquiring Bitcoin in smaller amounts, a massive influx of investment is unlikely until legislation is passed that clarifies the treatment of cryptocurrency. Scaramucci highlights the importance of regulations concerning stablecoins, traditional banks' custody of digital assets, and progress in tokenizing financial instruments. He asserts that this regulatory clarity will enable substantial purchases, possibly involving multiple SWFs collectively investing billions in Bitcoin. He envisions a scenario where Bitcoin becomes recognized as integral to the global financial infrastructure, significantly influencing its price, even suggesting the possibility of a ‘million dollar Bitcoin’. Scaramucci's insights reflect a pivotal moment for institutional investment in cryptocurrency, as significant regulatory developments are anticipated to reshape the market landscape.

Source 🔗