Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, recently shared his bullish sentiments on Bitcoin during an appearance on CNBC's Squawk Box show. Highlighting the ongoing institutional adoption of Bitcoin, Scaramucci expressed optimism about the cryptocurrency's future prospects, particularly in light of recent developments such as U.S. pension funds beginning to invest in Bitcoin.

Scaramucci emphasized that institutional interest in Bitcoin is gaining momentum, pointing to the recent investment of approximately $100 million by the Wisconsin pension fund, the State of Wisconsin Investment Board. With regulatory approval in place, Scaramucci believes that larger financial institutions are now increasingly inclined to include Bitcoin in their investment portfolios. He anticipates that Bitcoin will become a key component of institutional investors' long-term tactical asset allocation strategies in the foreseeable future.

In advocating for Bitcoin, Scaramucci stressed the importance of conducting thorough research, urging individuals to delve beyond the whitepaper and gain a deeper understanding of the history and mechanics of money. According to Scaramucci, such research inevitably leads to a favorable view of Bitcoin. He asserted that being an early adopter of Bitcoin remains a profitable endeavor, despite the occasional challenges and uncertainties that may arise along the way.

Supporting Scaramucci's bullish outlook, recent data from the @lookonchain analytics account on X indicates a notable influx of funds into spot Bitcoin exchange-traded funds (ETFs). Over $255.94 million, equivalent to 3,893 BTC, flowed into nine ETFs on May 16 alone. Notably, while Grayscale's Bitcoin fund experienced outflows, other ETFs, including Fidelity's, saw significant inflows, underscoring growing investor interest in Bitcoin.

Against this backdrop, Bitcoin itself has experienced a modest uptick, with its price surpassing the $66,000 mark and currently trading at $66,340 per coin. Scaramucci's bullish stance on Bitcoin aligns with the broader market sentiment, indicating continued optimism about the cryptocurrency's future trajectory.