The market ** is ** choosing – Bitcoin and other cryptocurrencies – over paper money, so governments are conducting a very dangerous experiment. Although, here is another common scenario. Buying Bitcoin is better than investing your money in traditional assets like stocks, bonds, and gold. This renowned hedge fund manager recently discussed the same thing in a CNBC interview, although he incorporated a different scenario into this discussion.
Anthony Scaramucci, former White House communications director expects Bitcoin (BTC), Ethereum (ETH) and Algorand (ALGO) to fulfill gold’s role as a top inflation hedge. Yes, you heard right. BTC and ETH were no surprise elements, but the same was not the case with SOMETHING.
“With 21 million coins and their scarcity, remember we only have 65% of the gold mined right now, the supply shortage, the technical properties, I think BTC will probably be 10 times better than gold over time.”
In addition to this, it also recommends other digital assets to hold firm against precious metals.
SOMETHING & ETH to pave the way forward
Now both gold and Bitcoin could move forward together in the face of inflationary pressures. However, he prefers the latter along with two new additions. This is what he said:
“Well, I think gold will be fine, but it is a flat line situation. Can you go up modestly? Yes, but I think that Bitcoin and properties like Ethereum and Algorand will increase exponentially just because of scalability. [and] security issues around you. “
Let’s dive deeper into this.
Ranked # 20 token had a decent year from the start. However, Scaramucci has been bullish on the token lately. Algorand is a Layer 1 solution for interoperability and smart contract functionality, enabling DeFi and NFTs.
$ Something is different. It has infinite use cases and solves the trilemma. At Decipher, people will receive comprehensive information on what the future holds and why @Algorand will be a big part of this. @stevekokinos @wsford @ Jeffschumacher4 https://t.co/mPURy67n8p
– Anthony Scaramucci (@Scaramucci) October 26, 2021
Recently, Algorand COO Sean Ford opined, “Certainly the scalability and speed with which we can transact is hard to beat.” Plus, ALGO’s capabilities are unmatched on some fronts. Scaramucci highlighted one in the tweet below:
– Anthony Scaramucci (@Scaramucci) November 12, 2021
With such developments and support, analysts are bullish on ALGO and its probability of hitting the $ 3 mark. Regardless of the ongoing price correction.
Moving on to the largest altcoin, Ethereum. There is no denying this, if BTC is digital gold, then ETH is digital silver. The second largest cryptocurrency in the world has a market capitalization of about half the size of bitcoin, but some in the industry favor it due to its adoption of smart contracts.
Right now, the ETH network is undergoing network discovery, the transition is unlikely to be easy. But it is also a step in the direction of being a deflationist. Although it is on the way to $ 5000 it still remains intact.
In general, the question remains: “Will gold go up? Certainly. If you are going to have 6% inflationWill gold go up? Sure, “concluded the executive in question. Still, his preferences remain unflappable.
This is a machine translation of our English version.