Main navigation

Anthony Scaramucci Compares Bitcoin to Early Amazon, Talks About 64x Returns

News
Thu, 03/18/2021 - 15:12
article image
Yuri Molchan
SkyBridge CEO has compared Bitcoin to Amazon shares after the IPO, which have shown a gargantuan rise by now
Anthony Scaramucci Compares Bitcoin to Early Amazon, Talks About 64x Returns
Cover image via www.facebook.com
Read U.TODAY on
Google News

Anthony Scaramucci, head of SkyBridge and its affiliated Bitcoin fund, believes that, over time, Bitcoin may bring returns comparable to those made by Amazon after twelve years of holding: 64x.

He has talked Bitcoin during CNBC's Squawk Box show episode.

"Once Bitcoin scales and reaches adoption of over $1 billion…"

Scaramucci has compared Bitcoin to Amazon shares, which showed 64x returns on investment after a twelve-year period, starting in 2009 and finishing in 2021.

Bitcoin, at the moment, is passing through its transitionary period, same as Amazon during its first ten years. If you bought $10,000 worth of Amazon shares back in 1997, during the IPO, they would be worth more than $21 million now, the SkyBridge CEO specifies.

6848_0

Continuing his line of equating Bitcoin to Amazon, Scaramucci added that now, 20 years after the IPO, Amazon is trading with much more stability than before.

Once BTC scales and reaches adoption levels of more than $1 billion, the same may well happen to BTC, and it is likely to show similar returns on investment.

Related
Anthony Scaramucci Expects Bitcoin to Hit $100,000 Before Year's End

Bitcoin is decentralized, and that's a big advantage

Scaramucci also reminded the CNBC anchor that Bitcoin reached one-trillion-USD market capitalization much faster than Amazon and other big companies, mainly because Bitcoin is decentralized.

He is positive that Bitcoin will show the aforementioned results over the next 15 years.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.