SkyBridge Capital founder Anthony Scaramucci predicts more pension funds will add Bitcoin (BTC) to their investment portfolios.
In a new interview with CNBC Squawk Box, the hedge fund veteran said other pension funds are likely to follow Wisconsin's decision to invest in Bitcoin to help pay for retirement benefits.
This week, new filings with the U.S. Securities and Exchange Commission (SEC) show that the Wisconsin Investment Commission, the state agency that manages investments in public retirement and trust funds, announced that BlackRock's iShares Bit It was revealed that it has invested approximately $163 million in Coin Trust (IBIT) and Grayscale Bitcoin Trust. (GBTC).
“I think there are institutional adoptions happening now. And I think that was the rate limiting step for a lot of these large institutions…
A lot of smart institutions are saying, “Let's take a long time on this.'' ”
Scaramucci believes Bitcoin is still in its early stages of adoption.
“Early on, there can be a lot of bumps and scrapes. But I think it's beneficial to get into Bitcoin early, and we're still in the early stages of Bitcoin. I think there is.”
At the time of writing, Bitcoin was trading at $67,142, up 2.5% in the past 24 hours.
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