2 Things to Boost Bitcoin Demand that you should know
Navigasi - Skybridge Capital founder Anthony Scaramucci has again expressed his views on the world's largest cryptocurrency, Bitcoin. According to Scaramucci, Bitcoin has good fundamentals for the future.
|2 Things to Boost Bitcoin Demand that you should know|
"Everyone is a long-term investor until they have a short-term loss," Scaramucci said.
Even so, Bitcoin is currently still more than 60 percent below its all-time high of around USD 69,000 reached in November 2021.
In June, bitcoin fell to USD 17,958, its lowest level since December 2020, according to Coin Metrics data. Bitcoin last traded at USD 24,047, down 2.4 percent in the last 24 hours on Tuesday, August 16, 2022.
While the bitcoin price is still far from the highest price ever reached, Scaramucci said he is optimistic that two big things have happened on the institutional side that are likely to generate demand for bitcoin.
First, many institutions started to integrate Bitcoin. For example the company Fidelity allows their retirement 401k product in bitcoin. Then, Blackrock's offer of personal trust for clients to invest in bitcoin as another reason that will generate a pull for the cryptocurrency.