In an unprecedented development, Bitcoin BTC/USD soared past the $100,000 level for the first time in history last week. The milestone comes amid swirling regulatory speculation and the ripple effects of President-elect Donald Trump's victory.
What Happened: In a recent interview, SkyBridge Capital founder Anthony Scaramucci spoke about the evolving cryptocurrency regulatory landscape and the future of Bitcoin.
Scaramucci, who has a large personal investment in Bitcoin, told Yahoo Finance: But this milestone is important because I think it tells people that Bitcoin is probably ready for prime-time institutional investors. ”
“There are 85 million people in this country who own some form of cryptocurrency. There are 65 million dog owners, so there are more cryptocurrency owners than dog owners.” said Scaramucci.
“So I think the Biden administration is looking at the polling data and recognizing that young people, the Hispanic community, the African American community are embracing cryptocurrencies. “As much as I would like to oppose it that strongly, I don't think it makes sense from an electoral perspective,” he added.
Also read: Scaramucci talks about Trump deportation plan: 'There will be a stock market crash'
Scaramucci also shared his thoughts on President Trump's appointment of Paul Atkins as the new SEC Chairman. “I like that. I've known Paul for a long time. He's a liberal at heart,” he said.
Scaramucci went on to highlight the growing acceptance of cryptocurrencies, noting that there are now more crypto owners in the United States than dog owners.
Why it matters: Bitcoin's rapid rise, coupled with ongoing regulatory debates, highlights the growing importance of cryptocurrencies in the global financial landscape.
As Scaramucci pointed out, the jump above $100,000 could indicate that Bitcoin is ready for mainstream institutional investors.
Additionally, the appointment of a libertarian-leaning SEC chair could result in a more favorable regulatory environment for cryptocurrencies.
This development, along with the increasing popularity of cryptocurrencies among the US public, could pave the way for further growth and acceptance of cryptocurrencies in the future.
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