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According to the CEO of SkyBridge Capital, Anthony Scaramucci, while bitcoin can not act as an asset to hedge inflation, since the adoption of the first cryptocurrency is not enough.
During a speech on the Squawk Box program on CNBC, Anthony Scaramucci stressed that bitcoin has not yet matured enough to be considered a full-fledged hedging asset. The capitalization of the first cryptocurrency is now at around $ 411 billion, which, of course, is not enough to hedge the inflation of the major economies of the world.
“Until the number of Bitcoin wallets reaches a billion, I do not think that you will be able to use bitcoin as a hedging asset – it is only a technical asset at an early stage of development. You just don’t have enough bandwidth,” Scaramucci said.
Indeed, the number of wallets of the first cryptocurrency is estimated at 200 million Often bitcoin is called digital gold, however, as the CEO of SkyBridge Capital emphasized, its capitalization is too small for it to become a real competitor to the valuable metal.
At the same time, Scaramucci has a positive view of the future of the cryptocurrency market. He noted that now a significant number of “short” positions are open, but traders should prepare for losses. Most recently, Scaramucci said that he was confident in the imminent recovery of bitcoin and other cryptocurrencies.
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