The growth of Bitcoin, the leading and most valuable cryptocurrency in the crypto space, are why the assets are the most preferred by potential investors into the cryptocurrency terrain. Despite a black week about 14 days ago, the digital assets have started to flourish again, amidst several fanfares by its admirers. However, just like any other religion or cause, Bitcoin admirers are known to be loyal to the assets, as they have a great belief in the fortunes of the cryptocurrency. Anthony Sacaramucci, the Skybridge co-founder, has now joined a growing list of Bitcoin admirers, as the businessman has now pledged his allegiance to only Bitcoin.
Scaramucci’s Skybridge has made more than 75% profit off Bitcoin
The former Whitehouse Communications Director has now moved entirely into cryptocurrency, as he is classified on social media these days as a crypto analyst. However, in a recent interview with decrypt, the Skybridge Capital hedge fund co-founder explained that despite his love for cryptocurrencies and the market, he is entirely focused on Bitcoin for now. Scaramucci believes that Bitcoin, the cryptocurrency with the largest market cap in the cryptocurrency space, is the big dog and attracts investors the most.
The businessman also believes that while he fancies the fortunes of other cryptos like Ethereum, Dogecoin, and Co, he only believes that Bitcoin is the superficial one amongst all, hence his loyalty to the digital asset. The Bitcoin maximalist, whose company is also institutional investors in Bitcoin, has seen its fortunes plummet to about $400 million in barely seven days. Bitcoin was trading around the $30K mark when Scaramucci’s Skybridge launched in January. However, with the asset currently trading around $55k in today’s prices, Skybridge has netted about 78% profit in trading the digital assets. This is believed to be another reason why the Bitcoin admirer will unlikely be looking at other digital assets, at least for now.
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Bitcoin remains king
However, while Bitcoin has made Scaramucci so many funds already, the executive believes that is not the only reason he is interested in Bitcoin. He believes that the criticism that many digital assets face in the outside world, which has somehow started to elude Bitcoin, is one of the reasons why he’s putting all his eggs in one basket with the cryptocurrency. He also believes that adopting other altcoins, aside from Ethereum by many investors of all nature, has been slow. Hence, he feels that Bitcoin will likely stand the test of time.
He believes that the growth of Bitcoin has been responsible for luring many investors into the cryptocurrency space, at least in the last 12month, and he does not see that situation changing soon. However, the statements of Scaramucci have echoed the thoughts of many analysts who believe that Bitcoin will likely remain the hero of the market for many years to come. Bitcoin is currently trading around the $55k mark at the time of writing, as the market of the leading cryptocurrency crosses the $1 trillion mark again.