Scaramucci Backs Bitcoin To Return To Its Bullish Ways Soon
Despite Bitcoin giving way and moving the ways of the bears in the past few weeks, enthusiasts and protagonists still see it as the next big thing. Even with the said bearish run, Bitcoin has convinced people over the years that it is a good investment. Last year is a significant example for many people as Bitcoin left the coronavirus lows of $3,500 to make a massive all-time price surge to close out the year.
Making a case of Bitcoin going back to the top, an investment fund manager, Anthony Scarramucci, has said that he believes Bitcoin could go the way of the bulls soon enough. The fund manager’s latest comment is coming on the back for a previous investment that he made in the leading digital asset earlier this month.
Bitcoin Fund LLC announced a $310 million Bitcoin holding
Giving his review at an Opinion Piece that took place on Sunday, Scaramucci mentioned that this recent bearish run was a small setback, and Bitcoin would return to winning ways soon. Backing up Scaramucci’s claims on Sunday was the fund investment COO, Skybridge Capital, Brett Messing, who says he believes that Bitcoin would make a bullish run soon too.
Scaramucci was in the news some weeks ago when his newly established fun, Bitcoin Fund LLP, announced that it is holding nothing less than Bitcoins worry about $310 million. In their statement, the firm noted that Skybridge owns about $25 million out of the digital asset’s whole stash. Scaramucci mentioned that the fact that investors are scooping up available Bitcoin should count for something.
He notes that even Bitcoin itself is not affected by outside forces such as inflation; he believes the reason they are buying more is more than that. He notes that as time goes on, the law of supply and demand will catch up to Bitcoin as the digital asset would be limited in supply even more than it is now.
Scaramucci says that regulations mean that crypto is being accepted
Scaramucci also claims that Bitcoin has been able to catch both the government and the regulators’ attention in the recent surge that the digital asset made. According to him, several governments and regulators are now running frantically to improve and provide some features for those trading the digital asset.
He said that regulators are now making moves to create more laws and regulations that would check the crypto space activities, especially in terms of illegalities and securities amongst crypto outfits. Scaramucci also said that problems or regulations are now in the past as the Office of the Comptroller of the Currency has announced that individuals and entities can now provide crypto service to people willing to invest and trade the digital asset.
In his statement, Scaramucci mentioned that as far back as 2017, things like these were not thought of in the country as regulations were the major obstacles to people trading crypto in the country. He also noted that the inflation introduced thanks to the federal reserve would see people run to assets like Bitcoin as a hedge.
