This altcoin will be similar to Google! A comment about cryptocurrency from a famous billionaire!


The interest of institutional investors in cryptocurrencies is growing day by day. Financial institutions want to provide crypto services to their clients. Other companies are debating whether they will be able to protect their balance sheets in the face of rising inflation in this way. One of the popular hedge funds has announced its own investment basket.

Cryptocurrency Investment Basket

Anthony Scaramucci, founder of SkyBridge Capital, has reportedly invested about half of his company’s $3.5 billion assets under management in Bitcoin (BTC), Ethereum (ETH), Algorand (ALGO) and cryptocurrency-related stocks. In a new interview with Bloomberg, Scaramucci said that SkyBridge Capital “adapted and changed its position” during the pandemic, noting that the firm hopes to eventually become a leading manager and consultant on crypto assets.

Scaramucci said:

“If you just look at 10-year GDP growth, about 1.6%, which is below trend. I’m not saying that inflation will last forever, but we will at least temporarily experience high inflation. I think this will continue for a period of 18 to 36 months. That’s why you need to invest in growth-oriented sectors. We believe that cryptocurrencies have a huge growth potential.”

Are cryptocurrencies dangerous?

Scaramucci admits that allocating a large percentage of the firm’s capital to cryptocurrency is a risky strategy. The founder of SkyBridge spoke in detail about his long-term growth in Algorithand, a proof-of-stake blockchain that allows developers to create decentralized applications for financial services. The smart contract platform is a competitor to Ethereum (ETH), which aims to increase the speed of transactions at a lower cost.

“Now I have a quarter of a billion dollars in Algorithand. I think that Algorithand will become Google… Algorithand will come after me. It’s just that more and more people will have to do a thorough check and decide to choose it.”

Scaramucci predicts that Algorithand will eventually challenge leading competitors in the crypto industry, as Google did at the dawn of the Internet. Earlier this year, Scaramucci said bitcoin would reach $500,000.