Saturday, April 10, 2021

Anthony Scaramucci: Ethereum (ETH) Would Continue To Grow Because It Has Good Fundamental

Anthony Scaramucci, the founder of the global investment fund, SkyBridge Capital, has recently stated that the use cases embedded in Ethereum (ETH) will propel it to a notable stage in the financial world.

In a recent interview on Squawk Box, Scaramucci pointed out that Ethereum would continue to grow because it has a good fundamental. However, he said his company still focuses on Bitcoin because to make his thousands of clients fully understand cryptocurrency requires a step at a time, which is why Skybridge Capital has not incorporated Ethereum fund.

Read Also: This Metric Shows That Ethereum (ETH) Is Still Undervalued At Current Price

Scaramucci believes that the technology around Ethereum is capable of making ETH a sticky digital currency and a store of value as much as the flagship cryptocurrency Bitcoin (BTC).

He also revealed that there is a possibility for SkyBridge Capital to launch Ethereum Fund in the future.

Anthony Scaramucci noted:

“I think there is a very big market for Ethereum and I predicted that Ethereum has a good fundamental and would grow. But I’m in an institutional sort of business. I think like an institutionalist and I got to get my clients to think about cryptocurrency and digital assets.

“So, as a first step, we focus on Bitcoin and we only have Bitcoin fund, but could we have Ethereum fund in the future? Yes, we certainly could. Everything you are saying is true with non-fungible token and the technology around Ethereum is going to make it a sticky cryptocurrency and a store of value that people will transact with.

“I do like Ethereum, but I’m going to tell you, I get 26,000 or so clients, I get to convince them to move from 0 to 1 and that’s why we focusing on Bitcoin fund right now, but yes, I do agree with you on Ethereum.”

Read Also: 400,000 ETH Worth Over $800 Million Left Coinbase. Surge in Institutional Demand for ETH?

Ethereum (ETH) in the Market

Meanwhile, Ethereum (ETH) is doing well in its quest to hold above $2,000 support, while Bitcoin (BTC) continues to reject the $60,000 support level.

Ethereum is currently trading above the $2,100 resistance level and many analysts think the second-largest crypto has enough room to grow. At the time of writing, ETH is priced at $2,132.46, with about a 3% price uptrend in the last 24 hours.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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