Anthony Scaramucci: "Bitcoin is early to call the inflation hedging asset" – Bits Media

According to the general director of Skybridge Capital Anthony Scaramucci, So far, Bitcoin cannot act as a hedge of inflation, since the adoption of the first cryptocurrency is not enough.

During the performance on the Squawk Box program on the CNBC channel Anthony Scaramucci (Anthony Scaramucci) stressed, that Bitcoin is not yet “mature enough” to, to be considered a full-fledged hedging asset. The capitalization of the first cryptocurrency is now at $411 billion, what, certainly, not enough to hedge the inflation of the world's major economies.

“Until the number of Bitcoin wallets reaches a billion, I don't think, that you can use Bitcoin as a hedging asset - it is only a technical asset in its early stages of development. You simply don't have enough bandwidth.", - Scaramucci said.

Really, the number of wallets of the first cryptocurrency is estimated at 200 million. Bitcoin is often called digital gold., but, as emphasized by the CEO of SkyBridge Capital, its capitalization is too small, so that it becomes a real competitor to valuable metal.

At the same time, Scaramucci looks positively at the future of the cryptocurrency market. He noted, that a significant number of short positions are now open, however, traders should prepare for losses. Just recently Scaramucci said, that he is confident that the rates of Bitcoin and other cryptocurrencies will soon recover.