Crypto

SkyBridge Capital’s Anthony Scaramucci expects a pro-crypto presidential candidacy

Anthony Scaramucci, the founder of the hedge fund SkyBridge Capital, thinks that the next United States presidential candidate will likely be pro-cryptocurrency, given that the U.S. Securities and Exchange Commission (SEC) recently announced the approval of a fourth Bitcoin (BTC) futures exchange-traded fund (ETF).

During an interview at SALT’s Crypto Bahamas conference, Scaramucci told Gist Vile that he has been bullish on a pro-crypto presidential candidate since the SEC approved Bitcoin futures under the Securities Act of 1933 (‘33 Act) and the Securities Act of 1934 (’34 Act). He added:

“The Congress is indicating that they are more crypto-friendly. You now also have 73 million people that own cryptocurrency. Lots of these people are single-issue voters, which will circulate through Congress. Positive regulation ahead is a prediction from SkyBridge.”

Given this, Scaramucci also hopes that a Bitcoin spot ETF will be approved by the end of 2022. “If this happens, it will force all major financial services institutions to have a Bitcoin cash offering,” he said.

While it’s hard to predict the future, Scaramucci shared that SkyBridge Capital remains ahead of most financial institutions, noting that the hedge fund’s portfolio consists of Bitcoin, Ethereum (ETH) and other layer-1 tokens including Solana (SOL) and a fund dedicated entirely to the blockchain protocol Algorand (ALGO).

Scaramucci further remarked that 20% of his net worth is in Bitcoin, while 4%–5% is in Algorand’s ALGO token. “I bought my first Bitcoin in 2020 when the price was between $12,000 to $16,000, but I’ve also bought BTC when the price was at $65,000. I’ve made a macro bet on Bitcoin. I probably have a quarter of my net worth in this stuff.”

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