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Scaramucci Says Most Institutional Investors Remain Hesitant to Invest in Crypto: Report
The hedge fund manager also predicted that a large bank will seek to buy Coinbase or a similar crypto start-up.
Updated May 11, 2023, 4:14 p.m. Published Sep 27, 2021, 12:41 p.m.
Anthony Scaramucci, a former White House communications director and the hedge fund manager of SkyBridge Capital, said the majority of institutional investors are still reluctant to invest in crypto and blockchain technology.
- The founder of SkyBridge Capital told Bloomberg that crypto is dominated by around 10% of the financial-service community.
- “The institutions are not there … anybody who’s telling you there’s institutional adoption into this space is not being totally honest or they’re seeing something that I’m not seeing,” Scaramucci said.
- Scaramucci’s comments come as many mainstream banks and financial institutions have begun applying for and offering more crypto investments to their clients.
- The hedge fund manager also predicted that one of the big banks would eventually buy a Coinbase or a similar crypto start-up as decentralized finance continues to grow rapidly.
- In March, Scaramucci told CoinDesk TV more companies should be holding bitcoin on their balance sheet because the U.S. monetary supply was expanding so rapidly.
- Earlier this month, First Trust applied to the U.S. Securities and Exchange Commission to offer a crypto exchange-traded fund that would be managed by SkyBridge Capital.
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