Founder and CEO of international investment firm SkyBridge Capital Anthony Scaramucciannounced that he expects a rise in Bitcoin (BTC).
Participating in a new interview on CNBC, Scaramucci stated that the leading crypto asset has reached the “escape speed” according to the data on the number of Bitcoin wallets based on the on-chain data sharing platform Glassnode.
“For me, the global Bitcoin (BTC) When I examined their wallets, according to Glassnode data, this number is over 260 million, now there is an escape volacity.”
According to the CEO of the hedge fund, the number of Bitcoin wallets could even reach a billion if it allows companies to invest in Bitcoin for retirement. USA’s leading retirement plan provider Fidelity Investmentsrecently announced that savers will soon be able to allocate a certain percentage to Bitcoin in their 401(k) plans or company-sponsored retirement accounts.
“We’re going to start talking about a billion wallets at some point. This reality is not far off, it could be three or four years from now. But just imagine the combination of these things and the increase from these companies. They will eventually offer it as a solution. How much should people invest in Bitcoin now? This is a very broad question. I would say 1 percent to 5 percent of the capital.”
Scaramucci says Fidelity’s plan to allow retirement savers to invest in Bitcoin will serve as an adoption catalyst for the flagship cryptocurrency. According to Scaramucci, Fidelity’s latest move will be similar to what happened in the equity markets when the wealth management giant allowed 401(k) holders to allocate shares decades ago.
“The Fidelity announcement was very important to the markets. Of the 21 million BTC, only 19 million were mined. Fidelity has $2.4 trillion in retirement assets, a total of $11 trillion, or $13 trillion. Just think about these numbers. I think Fidelity will do for Bitcoin what this company did for the stock market in 401(ks) in the 80s and early 90s.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.