Hedge fund veteran Anthony Scaramucci reportedly says that the recent adoption of Bitcoin (BTC) in corporate treasuries is likely a temporary trend.
In an interview with Bloomberg, the SkyBridge Capital founder says he thinks the BTC treasury business model will fade away.
“Right now we’re having this replicative treasury company idea… So, you know, it will fade.”
The investor says that eventually, investors will begin to question why they’re paying a premium for a “middleman” to hold an asset when they could simply hold BTC on their own.
Over the last year, there has been a trend among corporations of accumulating Bitcoin, both as a savings mechanism and a strategy to convert their shares into proxies for investing in the flagship cryptocurrency.
Some of the recently launched BTC treasuries include Anthony Pompliano’s ProCap BTC, Grant Cardone’s Cardone Capital, Gamestop and Japanese hotel company MetaPlanet.
Other companies like Michael Saylor’s Strategy have been employing the same tactics for years. However, Scaramucci says he feels different about Strategy.
“Saylor’s case is different, because he’s got a couple different products going now… I’m not negative on the others, because I’m too bullish on Bitcoin, but I would just say as an investor, you have to look through the underlying costs associated with each one of these treasury companies…
“The question is, if you’re giving somebody $10 and they’re putting $8 into Bitcoin, are they going to do well? Yes. But you might have been better off just putting $10 into Bitcoin. I think that’s an issue.”
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
