Anyone That Does His “Homework” on Bitcoin Ends Up Investing in it: Anthony Scaramucci

Hedge Fund investor Anthony Scaramucci told CNBC in an interview that anyone who takes out the time to do their Homework on Bitcoin (BTC) always ends up investing in it. According to Scaramucci, those who study the fundamentals of Bitcoin by reading the official whitepaper will be convinced about the coin’s inherent potential.

Anthony Scaramucci affirmed that he has accumulated as much as $1 billion in BTC since he started stacking up the premier cryptocurrency back in 2020. In driving home his point, he used other billionaire investors like Ray Dalio who was once a Bitcoin skeptic and now a major BTC investor.

“Do the homework on bitcoin, understand what it is,” Scaramucci said, also suggesting the reading of the white paper by the creator of bitcoin, among other materials.

“Anybody that does the homework … ends up investing into it. Look at Ray Dalio, a bitcoin skeptic, now a bitcoin investor.”

Additionally, he pointed out that big investor names including Paul Tudor Jones and Stanley Druckenmiller also have sizable investments in BTC. “These are brilliant guys [who] did the homework and drew a conclusion that they needed to own a piece of bitcoin,” he said.

Anthony Scaramucci Sees Bitcoin as ‘Digital Gold’

According to the veteran investor, Bitcoin is best considered as a ‘Digital Gold’ judging by its ability to serve as a hedge against inflation. For decades, Gold has been tagged as the perfect way to preserve cash holdings from bad economic inflations, however, investors are beginning to shift basis, drawing on the 21 million capped supply of Bitcoin.

“If you had 1 cent in bitcoin and 99 cents in cash over the last decade, you outperformed everything. Just think about that,” Scaramucci said, drawing on the potentials of Bitcoin’s rate of gain.

Over the past week, Bitcoin has retested its previous All-Time High (ATH) and recreated a new one at $66,930.39. There are projections for the coin to close the year on an even more bullish note at about $100,000, a feat that can be attained with more aggressive buyups from both retail and institutional investors.