According to SkyBridge Capital founder Anthony Scaramucci, Bitcoin (BTC), is a cryptocurrency that can be convinced investors to invest in it.
Scaramucci, who was also President Donald Trump’s communications director for 10 days, spoke Monday to Capital Connection. He encouraged investors to do their homework about Bitcoin and understand what it is. He also recommended that investors read the whitepaper written anonymously by Satoshi Nakamoto.
Scaramucci stated that understanding Bitcoin will lead to greater adoption, as prominent investors around the globe realize its potential.
“Anyone who does their homework will end up investing in it.” Ray Dalio is a Bitcoin skeptic who is now an investor in Bitcoin.
He also mentioned that Paul Tudor Jones, a world-renowned investor, and Stanley Druckenmiller, an American billionaire, had also purchased Bitcoin. He said, “These are brilliant men who did their homework and came to the conclusion that they had to own Bitcoin.”
Scaramucci pointed out that Bitcoin’s growth has exceeded 100,000% since January 2009, when it was first launched. “If you had one dollar in Bitcoin and 99c in cash in the past decade, you would outperform everything.” Think about it,” Scaramucci said.
Related: Peter Thiel, co-founder of PayPal, says he has ‘underinvested in Bitcoin’
Scaramucci’s comments come as Bitcoin is near new all-time highs last week. According to CoinGecko data, BTC traded at $63,277 as of writing. Bitcoin surpassed $67,000 on Wednesday for the first time ever in its history. One year ago, the cryptocurrency was worth $13,000
Many prominent investors claim that Bitcoin is difficult to use. Tim Draper, a major investor in the crypto industry, believes that Bitcoin’s difficulty of use is the biggest obstacle to mass adoption. Mark Cuban, an American billionaire entrepreneur, stated last year that Bitcoin must be simple enough for “Grandma to use it” in order to see mass adoption.