American financier Anthony Scaramucci has announced that he is currently working on a new project about crypto.
Scaramucci has urged his followers to ask any questions about crypto before unveiling more details about his project.
Questions from followers
American businessman and author Barry Ritholtz wants to know what specific problem the project in question solves and whether it will have any intrinsic value.
Ritholtz has also noted that crypto and an iPhone came out roughly around the same time, but one of them is “indispensable” while the other has seen rather limited impact. The founder of Ritholtz Wealth Management wants Scaramucci to answer why this was the case.
Based on nearly 200 comments that Scaramucci has received, his followers want to know whether crypto can be viewed as a viable investment, whether it can function as money, and whether the crypto market can be manipulated more than the stock market.
“Discuss its intrinsic value. Gold is valuable because it makes jewelery & electronics. Dollars are valuable because I need them to pay taxes. Why are bitcoins valuable?” one commentator said.
One commentator is also concerned about the growing quantum threat. “What happens when quantum computing renders its encryption redundant? Feels like everything goes back to paper real quick,” the user asked.
Vocal crypto advocate
The SkyBridge Capital founder, who first got into crypto back in 2020, is known as one of the most vocal advocates of Bitcoin and crypto.
He previously predicted that the price of Bitcoin could potentially surge to $150,000 by the end of the year. He also sees the largest cryptocurrency reaching $500,000 within just six years.