Claiming that the growing number of Bitcoin addresses indicates its increasing popularity worldwide, Scaramucci believes this trend will be one of the key factors contributing to BTC’s growth in 2024. He advises individual investors to allocate 5% of their investment portfolio to Bitcoin, considering it a long-term investment akin to gold, despite its inherent volatility.
Scaramucci specifically mentioned JPMorgan CEO Jamie Dimon’s recent comments expressing a desire to shut down the crypto industry if he held a government position. Dismissing Dimon’s perspective as short-sighted, Scaramucci emphasized the decentralized nature of the Bitcoin network and argued that banning cryptocurrencies would ultimately prove ineffective. He cited the example of China, which has officially banned Bitcoin but still witnesses cryptocurrency transactions and illegal mining activities. Scaramucci expressed confidence that Dimon’s opinion on digital assets will change as the regulatory environment in the US becomes more favorable.
Furthermore, Scaramucci called upon US Democratic Senator Elizabeth Warren, who opposes cryptocurrencies, to delve into a deeper study of Bitcoin. Highlighting its progressive role in the financial services sector, he emphasized that cryptocurrencies can provide assistance to individuals without bank accounts.
Scaramucci previously stated that Bitcoin had outperformed popular tech stocks and predicted its widespread adoption in the next 10 to 20 years.