Anthony Scaramucci on Philippe Laffont’s Bitcoin Adoption

Anthony Scaramucci, founder of SkyBridge Capital and a notable Bitcoin advocate, reacted on social media to billionaire Philippe Laffont’s recent acceptance of Bitcoin. Scaramucci remarked that Laffont, founder of Coatue Management, now recognizes Bitcoin as the greatest investment in a generation.

Laffont, whose tech-focused hedge fund manages $15 billion, announced his shift towards accepting Bitcoin at Coinbase’s State of Crypto Summit in New York City. Previously hesitant about Bitcoin due to its volatility, Laffont now considers its risk manageable enough to include in investor portfolios.

Much like other influential investors, Laffont sees Bitcoin as a safeguard against inflation. He expressed regret for not investing sooner and recommended that investors allocate 3 to 4 percent of their portfolios to Bitcoin, which he believes minimizes anxiety for investors.

Three Types of Clients

Laffont identified three categories of his clients: those who depend on him for investment decisions, those questioning his late entrance into Bitcoin, and those who remain apprehensive about cryptocurrency. He noted that the last group is a “dying population.”

The Price Prediction

In late May, Scaramucci speculated that Bitcoin might soar to $500,000, driven by rampant government spending. He emphasized that new investors are still “early” to the Bitcoin opportunity, despite the cryptocurrency’s evolving landscape.