U.Today – Anthony Scaramucci, founder and managing partner of SkyBridge Capital and a prominent supporter, stopped by CNBC's Squawk Box to talk about the world's flagship cryptocurrency and the recent news about US pension funds starting to buy it.
“It pays to be early in Bitcoin,” Scaramucci
Bitcoin now has regulatory approval, the financial expert continued, giving the green light for all those large-scale financial institutions to start securing a position in BTC.
In the near future, Scaramucci believes, BTC will be part of the long-term tactical asset allocation strategy for institutional investors.
The expert also believes that it is important to “do your homework on Bitcoin,” which means not only reading the whitepaper but also understanding the history of money and how it works. When you do that, Scaramucci said, “you go towards Bitcoin.”
Overall, he believes being early in Bitcoin is profitable and “we're still early…sometimes when you're early, you get a few bumps and scrapes,” he said.
Bitcoin ETFs Add Nearly $256 Million in BTC
The largest Bitcoin fund, managed by Grayscale, has seen outflows of 839 BTC, which is equivalent to $55,200. GBTC currently manages a total of 288,498 BTC worth $18.86 billion.
Fidelity ETF has added 1,989 BTC worth over $130.79 million. After this entry, the total amount of Bitcoin you own is 155,745 BTC, valued at $10.24 billion.
In the last 24 hours, the leading cryptocurrency, Bitcoin, has started a moderate rise of less than 2% by surpassing the $66,000 level and is currently trading at $66,340 per coin.
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This article was originally published on U.Today.
