Anthony Scaramucci, founder of SkyBridge Capital, believes institutional adoption of Bitcoin has commenced robustly and will accelerate significantly in the coming quarters. In an interview on CNBC, Scaramucci highlighted the increasing acceptance of Bitcoin among major financial institutions and pension funds.

He pointed to Wisconsin’s recent decision to invest in Bitcoin and suggested that other pension funds are likely to follow suit. Scaramucci attributed the growing institutional interest to Bitcoin’s regulatory approval, which has alleviated a major concern for large-scale investors.

Scaramucci explained:

“With regulatory hurdles cleared, institutions now feel more at ease including Bitcoin in their long-term tactical asset allocation strategies. If you’re not invested in Bitcoin, you’re essentially betting against it, especially given BlackRock's approach to integrating it into their strategic plans.”

He also discussed broader implications of Bitcoin adoption, describing it as “digital gold” rather than a universal currency. He emphasized its role as a hedge against extensive money printing and inflation.

Encouraging investors to conduct thorough research on Bitcoin, Scaramucci noted that a deep understanding of its history and fundamentals often leads to increased confidence in its potential.

Although SkyBridge Capital faced skepticism from some financial institutions when it adopted Bitcoin in November 2020, Scaramucci highlighted that many of these same institutions now embrace Bitcoin and related investment products such as exchange-traded funds (ETFs).

Scaramucci stated:

“Being an early adopter of Bitcoin presents challenges but has proven advantageous. We believe we are still in the early stages of institutional adoption of Bitcoin.”

While there is speculation about Bitcoin’s future value, with Tom Lee predicting a potential price of $150,000 by year-end, Scaramucci expressed confidence in Bitcoin’s long-term growth. He suggested that even if Lee’s projection is overly optimistic, Bitcoin could still achieve significant market capitalization, potentially rivaling gold’s $16 trillion valuation.

Scaramucci projected:

“Bitcoin reaching a market cap of $8 trillion is plausible. The increasing institutional interest underscores Bitcoin’s evolving role as a crucial component of modern investment portfolios.”

With Bitcoin trading just under $66,880 at the time of reporting according to CryptoSlate data, its growing prominence among institutional investors suggests it is poised to expand its role in the global financial landscape, with figures like Scaramucci leading the way in this transformative trend.