Former White House Communications Director Anthony Scaramucci expects institutional entities and countries to accumulate Bitcoin in coming months. He shared this forecast during a recent CNBC interview.
The SkyBridge Capital founder views Trump's recent crypto-related executive order as highly positive for Bitcoin investors. This comes despite what he describes as a temporary "sell-the-news" market reaction.
"The problem with Bitcoiners, unfortunately, is they've been beaten down for the last four or five years," Scaramucci said. "The expectations were very high that the Trump administration would just come in, turn on a switch and they would have this Halcyon era."
He praised the approach taken by "Crypto Czar" David Sacks. Scaramucci called the strategy "brilliant" for attempting to build bipartisan commitment to digital assets in the United States.
"The trading is sloppy right now," he acknowledged. "But I think if you look forward over the next three to six months, you'll see a lot more institutional buying on the fact that the United States is going to hold this asset."
This development would have cascading effects, according to Scaramucci. "It means that other countries are going to end up buying this asset as well," he predicted.
Scaramucci highlighted that the US holds various assets that enjoy cross-party support. He noted strategic reserves of gold, oil, rare earth minerals, and medical supplies face little partisan debate in Congress. The administration aims to achieve similar status for Bitcoin. Scaramucci suggested Sacks and Trump officials are pursuing a deliberate, methodical approach to depoliticize governmental Bitcoin holdings.
He expressed support for this measured strategy. "I think if they went very, very quickly and sort of rammed this into place there would've been a reaction formation on the side of the Democrats," Scaramucci concluded.