Amid the official decision of the U.S. Securities and Exchange Commission (SEC) to approve the first spot-regulated Bitcoin ETFs, Anthony Scaramucci, founder of SkyBridge Capital, predicts a significant rise in the value of the cryptocurrency.

Speaking to CNBC, Scaramucci highlighted this breakthrough as crucial for Bitcoin as a digital asset, glimpsing an expansive picture for digital property in general.

Scaramucci expressed confidence that the value of Bitcoin could reach its all-time highs by the end of this year, although he admitted to having been wrong on previous occasions. He also compared the current situation of Bitcoin to the approval of gold ETFs in 2004, calling the cryptocurrency “digital gold”.

Looking at the market capitalization of gold, estimated at $13 trillion, Scaramucci suggested that Bitcoin could aspire to represent 50% or 60% of that market capitalization, implying a 10-fold increase in price over the next decade.

Currently, the value of Bitcoin is around $43,000.

K. Tovar

Source: LaVoz

(Reference image source: Kanchanara, Unsplash)

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La entrada Bitcoin could surpass $100,000 quotation apareció primero en Bitfinance.

The value of the popular cryptocurrency, bitcoin, has risen this Thursday to a level that exceeds $ 39,000, with a revaluation of more than 10% in the session and above 30% so far in 2021, a figure that exceeds 377% the accumulated increase in one year.

The analyst of the multi-asset investment platform eToro, Simon Peters, reported that the growing demand for the popular currency makes the asset see as a refuge opportunity against the great fear of the institutions in this 2021, the powerful inflation.

“The financial generosity we have seen from central banks and governments has eroded the value of traditional assets like cash and bonds. This shows no signs of abating, so the momentum behind bitcoin is unlikely to fade in the near future, ”Peters said.

Better than physical gold

For his part, the co-founder and CEO of Bitpanda, Eric Demuth, reported in a recent interview to Europa Press that bitcoin “is digital gold and, in several respects, even better than physical gold (cheaper to store and move; better divisibility; tamper-proof and easily verifiable). That is something that many small investors already understand and to which institutional investors are adapting”.

In this regard, the Office of the Comptroller of the US Currency clarified that national banks could use stablecoins to perform payment activities and other functions.

K. Villarroel

Source: abc

La entrada Bitcoin soars above $ 39,000 with revaluation of more than 10% apareció primero en Bitfinance.