Scaramucci Says the GameStop Saga Is Positive for Bitcoin
- Democratization of trading bodes well for crypto, he says
- Take the ‘age of the micro investor’ seriously: Scaramucci
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The growing number of retail traders sidestepping Wall Street to power rallies in stocks like GameStop Inc. points to a positive backdrop for Bitcoin, according to SkyBridge Capital’s Anthony Scaramucci.
That’s because the phenomenon exemplifies financial decentralization, the guiding idea behind Bitcoin, he said. Smartphones and low-cost trading are “democratizing” the formerly insular and highly concentrated business of money management, he added. SkyBridge has an overall Bitcoin exposure of around $385 million.