For most SkyBridge Capital clients, Dogecoin is not up to scale, but it can be a competitive store of value. This opinion was expressed by the founder of the asset management company Anthony Scaramucci.
“Maybe it will be silver to bitcoin gold. This is happening right now. Either it will work or not,” he said.
Despite the fall in the dominance of bitcoin in the market below 40%, Scaramucci is confident that the first cryptocurrency retains the status of a “super predator” among digital assets.
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He admitted that it is still difficult to convince investors to invest in bitcoin, but advises to keep at least a little of the asset.
“As an investment advisor and someone who has been managing money for 30+ years, I have a responsibility to tell my clients to own 1%, 2%, or 3%. I am not telling them that you have to invest 100% of your net worth, but the right thing is not to lose sight of it,” said Scaramucci.
He believes that following bitcoin, Ethereum is close to achieving “tear-off speed”, thanks to the ongoing network modernization. But he has concerns that the second-largest cryptocurrency by capitalization may be surpassed by any project with the best smart contract technology.