Anthony Scaramucci, the founder of SkyBridge Capital and former White House Communications Director, continues to be a prominent advocate for cryptocurrencies.
With over 50% of his net worth allocated to Bitcoin (BTC), Scaramucci remains steadfast in his bullish outlook on the leading cryptocurrency.
Early last year, he predicted that Bitcoin was on track to surpass $100,000 in 2024, fueled by strong demand for Bitcoin exchange-traded funds (ETFs).
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Scaramucci further forecasted that pro-crypto policies under the incoming Trump administration could propel Bitcoin to double its value again by 2025. As reported by the Wall Street Journal, these bold predictions further cement his bullish outlook on BTC.
Alongside Bitcoin, his portfolio includes Solana (SOL), Avalanche (AVAX), and Polkadot (DOT), assets he values for their utility in enabling transactions and supporting smart contracts.
Speaking on the Bankless podcast, Scaramucci highlighted Solana as his top choice among layer-one blockchains, citing its speed and low transaction costs.
A look at the portfolio’s 2024 performance
Investors who mirrored Scaramucci’s cryptocurrency picks at the start of 2024 have reaped significant rewards, driven primarily by Bitcoin and Solana. Bitcoin leads the pack with a surge of 121%, closely followed by Solana, which is up 109%.
Meanwhile, Avalanche and Polkadot have delivered more modest gains of 8% and 0.28%, respectively.
A hypothetical $1,000 investment evenly split across these four cryptocurrencies at the start of the year would now be worth approximately $1,595, reflecting a robust 59% gain.
While Scaramucci’s notable gains showcase the potential of a focused crypto portfolio, they also highlight the inherent volatility of the cryptocurrency market.
Investors should approach such concentrated allocations with caution, as the risks in digital assets often far exceed those of traditional markets.
A diversified portfolio remains a prudent choice for most, helping to balance potential rewards with the unpredictability of the crypto landscape.
Featured image via Shutterstock
