Skybridge Capital CEO believes Bitcoin to be still in its early stages of adoption as a technical asset.
Skybridge Capital CEO Anthony Scaramucci said in an interview that Bitcoin needs to be a part of over 1 billion wallets to be actually considered a hedge against inflation. He called Bitcoin a ‘technical asset’ still in its early adoption cycle. There are approximately 200 million Bitcoin wallets in circulation.
Bitcoin was touted as a hedge against inflation, given its limited supply, but this narrative has evolved over time. On the other hand, Bitcoin is showing an increased correlation to traditional stocks.