Billionaire investor and SkyBridge Capital founder Anthony Scaramucci once again drew attention to Bitcoin (BTC). Scaramucci stated that the US dollar has lost its appeal. It showed that the value of a dollar in 2020 is currently worth about 75 cents. After this, he advised his followers to buy BTC. Meanwhile, it was revealed that BNY Mellon, the world’s largest custody bank, invested in BTC through ETF.
Another ‘Buy Bitcoin’ message from Anthony Scaramucci!
The US dollar, and technically most fiat currencies, have been losing value in recent years. This proves that Central Bank notes are not worth trusting as a store of value. The compound inflation rate of 25.14% recorded by Bitcoin is considered a major red flag that investors should pay attention to. Anthony Scaramucci shared his views to help his followers. Scaramucci recommended purchasing BTC as an escape from fiat “truffle.”
Anthony Scaramucci’s Bitcoin position is one that many in the BTC ecosystem support. Industry leaders like Michael Saylor have maintained their faith in Bitcoin’s overall purchasing power ever since. Coincidentally, Michael Saylor’s MicroStrategy Incorporated began investing in Bitcoin in August 2020. This move earned the company great acclaim as an important supporter of BTC. MicroStrategy holds more than 214,000 Bitcoins in its portfolio. Thus, the company achieved a tremendous return on its investment. This showed that BTC is an asset worth attracting everyone’s attention.
BNY Mellon invests in BTC!
BNY Mellon, the world’s largest custodian bank, has been revealed to be among the latest institutions to invest in Bitcoin (BTC) via a spot exchange-traded fund (ETF). In a Securities Exchange Commission (SEC) filing, the institution disclosed that it invests in ETFs from BlackRock and Grayscale, the world’s largest investment firm.
The bank’s entry into the Bitcoin ETF market potentially signals increased interest in this product. cryptokoin.comAs you follow from , the US SEC’s approval of Bitcoin ETFs has changed institutions’ perspective on crypto. With this approval, 11 products received permission to begin trading. With this move, Bitcoin rose above $73,000, which was its all-time high in March. Thus, it partially contributed to the revival of the crypto market.
BlackRock and Grayscale ETFs have emerged as popular options. Additionally, it attracted significant capital inflows. For example, BlackRock’s IBIT ETF has consistently attracted investment. Thus, it accumulated approximately $15.5 billion in about two months. However, BlackRock’s entry streak ended on April 24, recording a $0 entry.
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