SkyBridge Capital founder Anthony Scaramucci believes that the popularity of altcoins does not prevent Bitcoin from maintaining its dominance in the cryptocurrency market. At the same time, the Bitcoin dominance index continues to be held at about 40%. According to Anthony Scaramucci, many investors still find it difficult to convince them to pay attention to Bitcoin.
Therefore, the head of SkyBridge Capital recommends investing relatively small amounts in Bitcoin, calling it the only cryptocurrency that has reached "space speed". Scaramucci has always been a supporter of Bitcoin. As an investment consultant with over 30 years of experience in asset management, he recommends that his clients invest between 1% and 3% of their portfolio in Bitcoin.
"You don't need to invest all your money in Bitcoin, but you also cannot ignore this opportunity. Even with the growing influence of altcoins, Bitcoin is still the "apex predator" among digital currencies,"said Scaramucci.
According to him, the Ethereum is also striving to gain "maximum speed." Recall that in April, a Berlin hard fork was held on the Ethereum blockchain, aimed at improving the existing network. In addition, the transition to the Ethereum 2.0 update is expected, which uses the Proof-of-Stake consensus method to solve the problem of high fees.
However, Scaramucci fears that Ethereum may resemble one of the first Internet providers AOL (America Online), which developed too slowly and lost its market leadership. According to Scaramucci, if Ethereum developers do not accelerate, then it will be surpassed by other projects with more advanced smart contract technology. The founder of SkyBridge Capital also drew attention to the "dog coin" DOGE, whose popularity is growing due to tweets from Tesla CEO Elon Musk. DOGE was created in 2013 as a comic cryptocurrency, but Scaramucci is confident that it has great prospects and even has the opportunity to replace the boring litecoin with the position of "digital silver".
"In the future, DOGE may become a competitive store of value. If Bitcoin is digital gold, then DOGE has a chance to become digital silver,"said Scaramucci.
Many companies have already started accepting payments in Dogecoin, including SpaceX, the American online store Newegg and the Latvian airline airBaltic.