Anthony Scaramucci Cautions Users Over Ethereum Merge, Here’s Why

Amercian entrepreneur Anthony Scaramucci is highly bullish about cryptocurrencies in the long term. In a latest, the chief executive officer of Skybridge Capital spoke about his company’s crypto portfolio. With the Ethereum Merge coming next month, Scaramucci warned against retail investors selling their assets for small profits. He also spoke about the future prospects with the entry of Blackrock into the crypto ecosystem.

On Thursday, Blackrock launched a spot Bitcoin private trust, to provide clients with access to the digital assets. The launch is a result of huge interest in cryptocurrencies from institutional clients, Blackrock explained.

Scaramucci Is Long On Crypto

The Skybridge CEO said Bitcoin could potentially become a $300,000 asset in the space of six years. Speaking to CNBC, he said cryptocurrencies could prove to be great long term investments. Bitcoin and Ethereum are two of Skybridge’s largest positions, he explained, adding that they also have a large position in Algorand. He said his company is also interested in Solana.

“In the next six years, if BTC goes to $300K a coin, it will not matter whether you bought it at $20K or $60K. And I am just cautioning people that the future is upon us. It’s happening sooner than I thought.”

Describing Algorand as having an award winning technology, Scaramucci said, “We have a very large position in a smaller coin called Algorand.” He added that Bitcoin could witness huge commercial activity with improvement of the lightning network. An increase in applications and ease of transactions on the network could also result in positive momentum for Bitcoin, he explained.

Anthony Scaramucci Ethereum Merge Prediction

The CEO thought there are a lot of retail investors who are currently buying ETH and could sell the asset after Merge happens. This is an indication of people selling ETH after registering profits from the Merge news. However, Scaramucci warned against selling them early as they could be highly profitable in long term. Anthony Scaramucci Ethereum prediction is an encouraging sign to the community. “The Merge is coming with Ethereum and it is going to lower the transaction fees on that network. A lot of users are buying that rumor.”

He said people will probably sell on the news of The Merge which is scheduled for mid-September. “I would caution people against doing that. These are great long term investments.”

Anvesh reports major developments around crypto adoption and price analysis. Having been associated with the industry since 2016, Anvesh is a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.