Anthony Scaramucci, the founder of SkyBridge Capital, has expressed his unwavering support for the institutional adoption of Bitcoin (BTC) in light of recent revelations of spot BTC ETF exposures. In a recent CNBC interview, Scaramucci highlighted the bullish sentiment among institutions following the Securities and Exchange Commission's (SEC) approval of spot ETFs in January.

Scaramucci believes that the approval of spot Bitcoin ETFs was the regulatory green light that major institutions needed to embrace the asset, leading to a surge in Bitcoin's price. He noted that many firms are investing in Bitcoin, often citing references from BlackRock, before it becomes part of a tactical asset allocation index.

Reiterating his bullish stance, Scaramucci recalled that SkyBridge disclosed its Bitcoin position in 2020, facing backlash at the time. However, he pointed out that many of those firms have since gained exposure to the asset, emphasizing the importance of being early in the Bitcoin market.

Scaramucci Supports Bitcoin's "Digital Gold" Narrative

When asked about the reasons behind institutions' rapid adoption of Bitcoin, Scaramucci highlighted two main factors: Bitcoin as a hedge against inflation or as the future transactional currency. While acknowledging MicroStrategy's Michael Saylor's argument for Bitcoin as a universal currency, Scaramucci stated that he remains in the "digital gold" category.

Bitcoin as an Inflation Hedge

Bitcoin bulls have long touted the asset as a hedge against inflation, especially in light of central banks printing more money. Recent negative macroeconomic factors have affected stocks, further strengthening the case for widespread Bitcoin adoption. Some crypto users have also supported a fundamental shift from centralized banking to a more decentralized and transparent model. Scaramucci advises participants to research the asset, noting that people tend to gravitate towards Bitcoin after careful consideration.