‘Crypto investment boom has been greatly exaggerated’— Scaramucci

Anthony Scaramucci has criticized the widely circulating ‘crypto investment boom’, as he claims that it’s not very true. The CEO of Skybridge Capital, a multi-asset class investment company, had this to say during an interview with Bloomberg last week. Speaking to the news agency, Scaramucci says that the institutional investment boom, is plainly a wishful thinking. Speaking further, he explained that just about 10% of institutions are actively investing and reinvesting in crypto, while the rest remain uninterested about it.

Scaramucci Insists That Crypto Investment Boom From Institutions Is Not Real

Anthony Scaramucci has aired his clear opinions on where he thinks institutional investors are, at the moment, with regard to embracing bitcoin and cryptocurrencies. While he believes it is totally achievable, he feels we’re still very far away from the possibility. From his knowledge of the finance and investment industry, he says only 10% of the institutional world is presently investing actively in cryptocurrency.

Although the investor keeps insisting that he sees no new institutions or any trends of institutional investment boom anywhere, he concluded that anyone who says otherwise is probably trying to hide the truth – or they’re seeing something that the ordinary eyes cannot.

Decentralized Finance and what the Future holds for Institutional Investment

No doubts, Decentralized finance (DeFi) has been one of the major forces that has driven the cryptocurrency market in 2021. The DeFi sector comes with the unique ability of being able to transact and access financial services without a middleman, and Scaramucci is highly positive that this might attract many more institutions to come into the fold much later.

But being that as it may, institutions still have their reasons for being skeptical of investing in cryptocurrencies. Many are fearful of unclear regulations that have plagued the sector. Just this September, Coinbase, a leading U.S.-based crypto exchange, was threatened by the SEC when it planned to launch a crypto-based lending product. Also, there is the Chinese crypto ban that has now been well established. All these factors are responsible for shaping the perception that investors have about this industry.

In any case, there is hope, and cryptocurrency is beginning to receive the much needed attention from big institutions like Goldman Sachs, Fidelity, and JPMorgan, among others, who have all now started offering crypto services to their customers.