Anthony Scaramucci, co-founder of Skybridge Capital, asserts that new entrants to Bitcoin are still at an early stage, with institutional adoption of the asset only just beginning to accelerate.

During an interview with CNBC, Scaramucci highlighted that institutional adoption of Bitcoin is currently underway, emphasizing that more pension funds are expected to disclose their BTC allocations soon.

Institutional Adoption Gains Momentum

Scaramucci pointed out that Bitcoin has now received regulatory approval, which was previously a significant barrier for large-scale institutions. He emphasized that institutions are gradually incorporating Bitcoin into their portfolios, paving the way for its inclusion in total tactical asset allocation indexes.

Recent disclosures from nearly 1000 large investors, each with over $100 million in assets, revealed ownership of at least one U.S. Bitcoin spot ETF in their portfolios. Notably, the State of Wisconsin Investment Board disclosed a $162 million allocation to these ETFs.

According to Scaramucci, institutions are cautiously entering the Bitcoin market, with many considering allocations ranging from 1% to 5% of their portfolios as they introduce client funds to the asset.

Bitcoin's Potential as Digital Gold

Scaramucci categorized Bitcoin as "digital gold," aligning with investors who view the asset primarily as a store of value rather than a medium of exchange. This perspective resonates with MicroStrategy executive chairman Michael Saylor, who has previously dismissed Bitcoin's use as a currency.

Scaramucci emphasized the advantages of being an early adopter of Bitcoin, acknowledging the potential challenges but ultimately expressing confidence in the asset's long-term growth prospects.

Bitcoin Price Prediction

Earlier this year, Scaramucci predicted that Bitcoin could reach $170,000 per coin by the end of 2025, reflecting his optimistic outlook on the asset's future potential.

As institutional adoption of Bitcoin continues to gain momentum, investors like Scaramucci remain bullish on Bitcoin's long-term trajectory, underscoring its role as a store of value and its potential to reshape the global financial landscape.