Renowned hedge fund manager Anthony Scaramucci is confident that Bitcoin (BTC) will eventually surpass the $16 trillion market cap of gold. In a recent interview with CNBC, the founder of SkyBridge Capital described Bitcoin as a superior asset that has no parallel in the entirety of human history.

Scaramucci acknowledges that Bitcoin still has a long way to go before reaching the market capitalization of gold, but he believes that regulatory endorsements will bridge the gap over time. He highlights the immutability and decentralized nature of Bitcoin as its key strengths, emphasizing that these qualities make it incredibly powerful. The scalability of the Bitcoin network further adds to its potential.

Reflecting on the historical treatment of money over the past 5,000 years, Scaramucci asserts that Bitcoin fulfills all the necessary criteria. The only aspect where it falls short is central bank manipulation, which, in his opinion, actually makes Bitcoin even more potent. With a current market cap of $1.4 trillion, Scaramucci envisions Bitcoin surpassing the market capitalization of gold and believes it will happen.

Addressing the doubt that American owners of the ETF may not be sufficient to achieve this milestone, Scaramucci disagrees. He predicts that as regulators gradually embrace Bitcoin, more people will be able to include it in their portfolios. Even a modest 1% position in global portfolios would propel Bitcoin to new heights.

As of now, Bitcoin is trading at $66,587.

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