Scaramucci said the Treasury Treasury of Bitcoin (BTC) will disappear despite Saylor’s success
Anthony Scaramucci, the founder and hedge partner’s Partners who Skybridge Capital, said a wave of companies that adopted a bitcoin
The Treasury approach is just a trend. In an interview with Bloomberg, Scaramucci said he expects the approach to lose momentum in the coming months.
“So far we have the idea of this replicative company treasury,” Scaramucci said. “So, you know, it’s going to be gone.”
He indicated that investors may begin to wonder why they pay so much for a company to hold a possession that they can buy themselves.
The idea of using bitcoin as a corporate treasury asset gained traction in 2021, when the approach (Mstr)A software developer led by Michael Saylor, has become the first major public company to do so. Saylor’s aggressive purchase of Bitcoin has been an approach to a de facto Bitcoin investment vehicle, which sends stock prices to climb nearly 3,000% since.
The massive gains have drawn attention to the entire American corporation and elsewhere. A number of companies followed the strategy lead, including the manufacturer of the medical device semler scientific (Smlr)announcing its own approach to the Treasury of Bitcoin in May 2024, and Tokyo -based metaplanet (3350)that began as a Hotel management Company.
The trend is not limited to high-profile firms. Smaller companies, often penny-stocks, also jump, trying to raise capital or attract investor interests by adding bitcoin or other cryptocurrencies to their balance sheets.
What started as a focus on Bitcoin soon extended to other digital assets. Some companies have decided to buy ether
or XRP as part of their approach to Treasury, pushing the concept beyond its original coverage.
Scaramucci acknowledged that Saylor’s success was unique, pointing to other business lines of the company beyond Bitcoin’s handling.
“Saylor’s case is different, because he gets different products to go today,” Scaramucci said in an interview with Bloomberg. “I’m not negative to others, because I’m too much of Bitcoin, but I’m just going to say as an investor, you have to look at the underlying costs associated with each of these Treasury companies.”
