Antony Scaramucci Speaks on the Potential of Cryptocurrencies

Anthony Scaramucci, a former Communications Director at the White House and the Founder of Skybridge Capital, recently talked on crypto regulation in the US. The entrepreneur declared his stance on the matter during an interview with CNBC Crypto Trade.

Apparently, Skybridge delved into the crypto space after a statement made by Jamie Dimon, the Chairperson and CEO of JPMorgan Chase. Earlier this year, Jamie labeled crypto assets a ‘farce.’ The CEO further added that he did not believe in virtual currencies. Jamie, however, has since retracted these sentiments.

Following the statements by Dimon, Scaramucci realized that the crypto space has enormous potential which they were missing out on. Skybridge has since joined the cryptocurrency sector. So far, the company has completed the first phase that mainly involved education on the technology. According to Scaramucci, the firm is currently focusing on developing products for the crypto space.

Scaramucci noted that,

“The crypto space is prioritizing the development of platforms that enable the seamless and anonymous transfer of value. In this regard, he added that Skybridge intends to actively contribute to this industry that could shape the world’s future.”

Anthony believes that the cryptocurrency sector is still emerging, even if Bitcoin has existed for over a decade.

The lack of clear regulations on the crypto sector is significantly inhibiting companies from entering the industry. Concerning this, Scaramucci mentioned that governments are living in the past, which is why they are hesitant to enact regulations on the crypto markets. Moreover, Anthony added that administrations are accustomed to using their powers in manipulating currencies and interest rates as well as monetizing debts.

Scaramucci backed the aforementioned statement using the price of gold as an example. In 1971, the price of an ounce of gold was $31. Currently, the value of the same amount of gold is around $1,200. Anthony believes that the increase in the price of gold was largely influenced by governments. For this reason, Scaramucci expects governments to remain hesitant about regulating cryptos. In due course, hiver, the governments will be forced to conform and may even start to issue their own digital currencies.

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