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Bitcoin remains volatile despite $103k milestone: Scaramucci

Author: Content Editor
SkyBridge Capital founder Anthony Scaramucci has provided his perspective on Bitcoin's volatility and the importance of long-term investment horizons. He highlighted the risks and opportunities in the current crypto market environment and recommended holding Bitcoin for a four-year period. Scaramucci noted Bitcoin's historical drawdowns and emphasized that any rolling four-year period has historically yielded positive returns despite volatility. He sees the recent price milestones as a sign of Bitcoin's maturation toward mainstream institutional investment and believes that regulatory hurdles delayed this development. Scaramucci also drew a parallel between Bitcoin and gold, suggesting the potential for a tenfold increase if Bitcoin achieves gold's market capitalization. He disagreed with MicroStrategy's Michael Saylor on appropriate portfolio allocation, recommending a 2% allocation. Despite the possibility of significant price corrections, Scaramucci believes that the institutional framework now supporting Bitcoin creates a more stable investment environment than in previous cycles.

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