SkyBridge Capital Founder Predicts Amazon's Fate for Bitcoin
The founder of the SkyBridge Capital investment fund Anthony Scaramucci is convinced that the main cryptocurrency on the market will easily repeat the success of the largest online retailer, Amazon. He stated this in an interview with the leading channel CNBC.
Amazon's growth period was more restrained than that of cryptocurrencies and took much longer. As point A, you can take the moment of the company's IPO in 1997. By the spring of 2009 - 12 years later - the capitalisation of Jeff Bezos's brainchild had grown by more than 3500%. If an investor purchased shares in a retailer in the same 2009, then today he would have a profit multiplied by 64 times. At the same time, Bitcoin just turned 12 years old.
The businessman urged skeptical people to look at Amazon's growth chart from a long-term perspective, recalling what success his management was able to achieve in the midst of the pandemic. Then Scaramucci added that he expects the same development in the long term from Bitcoin.
SkyBridge Capital also invested $182 million in the main cryptocurrency on the market this December. Therefore, in the words of the head of the hedge fund, there is also a personal interest.
Then the company expressed the hope that over time, more hedge funds will invest in the growing industry and Bitcoin, calling the latter "an improved version of gold."