Investing In Bitcoin Is Safe, Says Anthony Scaramucci Of SkyBridge

Investing in Bitcoin is safe just as investing in bonds and gold is, according to Skybridge’s Anthony Scaramucci and Bret Messing so let’s find out more in today’s cryptocurrency news.

Bitcoin matured as an asset over the past few years and now investing in bitcoin is safe as the coin is seen as safe-haven investment similar to gold and bonds according to Scaramucci. In a recent post, both Bret Messing and Scaramucci outlined the intangibility of BTC as an important merit that outlines the unique characteristics of BTC. The co-founder of the Wall Street investment company and the current COO, published an article while trying to debunk some of the most popular myths and risks about BTC investing.

They admitted that these “unique and pronounced risks” like the possibility of losing the private keys to a wallet where users store the BTC wealth and price swings, still exist. They do require more diligence but the latter is changing the rules and regulations that spurred the institutional adoption. One example like this one came last year as the US Office of Comptroller of currency authorized banks and custodians to add more crypto services.

These signs of maturation made BTC much more attractive to institutions especially now since many prominent names made allocations to the asset. BTC became comparable with some of the most traditional and safe asset classes:

 “Increased regulations, improved infrastructure, and access to financial institutions – like Fidelity – that hold investors’ money have made bitcoin investments as safe as owning bonds and commodities like gold, which are also used to balance portfolios.”

The executives noted that BTC is in its early stages of the adoption phase and “offers significant long-term value” while BTC as an emerging asset class is now situated between “leaving room for appreciation” and “infrastructure to allow for wider adoption.” One of the most negatively popular features of BTC is its volatility as the cryptocurrency went up or crashed down in one day on more than one occasion. Scaramucci and Messing attributed these movements to the lack of clear regulation.

The situation is changing as more world regulators are looking into it and are implementing new regulations. The duo argued that the high net-worth individuals, hedge funds, macro funds, and life insurance companies are getting drawn to this environment of BTC investing. The post argued:

 “Bitcoin is valuable because of – not despite – it’s intangibility. You can always mine for more gold. Bitcoin is unique among assets as the first store of value in the world where supply is completely unaffected by increased demand.”