Anthony Scaramucci Says Digital Assets Nowhere ‘Near Their Peak,’ Urges Embracing Volatility In Crypto
By Benzinga
Anthony Scaramucci, founder of SkyBridge and chairman of SALT, will be speaking at the upcoming Benzinga Future of Digital Assets event in November. Leaders in the digital assets space will share their perspectives on the industry’s challenges and potential.
In a recent interview, Scaramucci provided insights into the obstacles facing blockchain adoption and how his firm handles volatility in the crypto market.
Blockchain’s Long Road to Adoption
Scaramucci recognizes that while blockchain technology holds immense potential, its integration into everyday financial and legal systems has been slower than some anticipated. He attributes this to the steep learning curve and the resistance to change from entrenched interests.
“Blockchain represents a completely new technology paradigm for financial and legal infrastructure, so naturally, it will take time for consumers to develop new habits,” he said.
Despite the hurdles, Scaramucci remains confident in blockchain’s future. He highlighted the potential for blockchain to restructure financial systems in a way that ultimately benefits consumers.
“Disintermediation in our financial system will return value back to the consumer and be a positive for our economy,” he noted, pointing to the gradual progress being made despite resistance from established financial players.
Handling Crypto Market Volatility
The crypto market is known for its volatility, which has raised concerns about the long-term stability of digital assets. Scaramucci, however, believes the market has not yet reached its full potential. “We do not believe digital assets have reached anywhere near their peak,” he said, though he acknowledged the mix of promising and unsound projects within the industry.
“There are worthwhile projects and sound assets, and there is plenty of hot air in crypto,” he said.
To manage the risks associated with such volatility, Scaramucci’s strategy focuses on identifying high-quality assets with staying power. He emphasized that embracing volatility is key to navigating the crypto space but also stressed the importance of gravitating toward assets with a strong foundation.
Looking Ahead to the Future of Digital Assets
At the Benzinga Future of Digital Assets event, Scaramucci will expand on these themes, offering attendees a deeper understanding of how blockchain and digital assets will likely evolve in the coming years. His experience in traditional and digital finance provides a unique perspective on how these two worlds can coexist and eventually integrate.
Scaramucci’s insights into blockchain adoption and his firm’s approach to crypto volatility offer valuable takeaways for investors looking to navigate the ever-changing world of digital assets. As the event approaches, his views on the future of blockchain and crypto will likely spark further conversation about the industry’s path forward.
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