Bitcoin’s Big Break: Wall Street Gears Up for Crypto Boom, Says Scaramucci
He expressed that while Bitcoin isn't currently a store of value, it has the potential to become one as it evolves.
Right now, he views Bitcoin as an early-stage technology rather than a secure asset, suggesting that it might be seen as a store of value in the future if it reaches over a billion users. However, he acknowledges that regulatory challenges continue to impact Bitcoin’s progress.
Scaramucci also highlighted the negative impact of scams and fraudulent projects, like the Grimace Coin scheme, which undermine the credibility of Blockchain technology.
He understands why the U.S. Securities and Exchange Commission (SEC) is cautious about such projects, as they detract from the legitimate advancements in the industry, such as the development of payment systems on Bitcoin and other foundational technologies.
Last week, Yahoo Finance reported that scammers hacked McDonald’s Instagram account to promote Grimace Coin, leading to $700,000 in investor losses.
Looking ahead, Scaramucci believes that Wall Street firms will eventually increase their efforts to promote Bitcoin exchange-traded funds (ETFs). He anticipates that financial advisors will soon start recommending Bitcoin as a key part of investment portfolios, driven by Wall Street’s powerful selling strategies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
DiDi has become a digital banking giant in Latin America
Attempting to directly replicate the "perfect model" used domestically will not work; we can only earn respect by demonstrating our ability to solve real problems.

Macroeconomic structural contradictions are deepening, but is it still a good time for risk assets?
In the short term, risk assets are viewed bullishly due to AI capital expenditures and affluent consumer spending supporting earnings. However, in the long term, caution is advised regarding structural risks brought by sovereign debt, demographic crises, and geopolitical restructuring.

a16z predicts four major trends will be announced first in 2026
AI is driving a new round of structural upgrades in infrastructure, enterprise software, health ecosystems, and virtual worlds.

Bitcoin FOMO trickles back at $94K, but Fed could spoil the party
