Yahoo Finance Live's Brad Smith joins Anthony Scaramucci at Bitcoin Investor Day to discuss crypto's next inflection point.
Scaramucci says making Bitcoin (BTC-USD) more accessible is the next step for cryptocurrencies. He pointed to the growth of spot Bitcoin ETFs after the SEC approved 11 ETF issuers in January. “Institutional investors are relieved,” he noted, adding that with Bitcoin's halving looming, “prices will rise significantly.”
Record outflows from Grayscale’s Bitcoin Trust (GBTC) could shake investor confidence, but Scaramucci claims Celsior and FTX’s bankruptcy trustee are behind the decline . Scaramucci says Bitcoin will experience record growth as new generations embrace digital currencies. He compared the adoption of cryptocurrencies to the tech savvy of millennials, noting that it will be an important part of the election conversation. Both sides of the political aisle “need to be pro-cryptocurrency…otherwise it could cost us elections.”
AI is also seeing a market rise with questionable momentum. As with Bitcoin, Scaramucci advises investors to look at long-term trends. That's my message to AI people. ”
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor's note: This article was written by Gabriel Roy.
