This article was originally published on January 16, 2022.
Bitcoin BTC/USD bull and SkyBridge Capital founder Anthony Scaramucci says his company is heavily invested in Algorand ALGO/USD because he believes the cryptocurrency will replace many of their competing blockchains.
in one last job interviewhe said that ALGO will challenge leading competitors in the crypto industry just like alphabet inc Google did in the early days of the internet.
“I just got a quarter of a billion dollars in Algorand. I think Algorand will be that Google,” Scaramucci said.
In December 2021, he compared Algorand’s passport potential ether ETH/USD in market cap to the opportunity Google took by bypassing its predecessors in the early stages of the internet.
Algorand is a blockchain-based crypto platform focused on security, scalability, and decentralization.
It is faster than Ethereum and offers lower transaction fees. ALGO also has a net negative carbon footprint.
“I think when the big companies eventually get to the tokenization side of the market and start working in the world of DeFi, they need something that’s scalable like Algorand, secure like Algorand, and ultimately decentralized, so they won’t have to worry about capricious inflation-deflation of what they use as a form of value exchange,” added Scaramucci.
He believes that Algorand is the future and it will require more and more people to do thorough due diligence and make the decision to go with the blockchain.
During an interview last December, Scaramucci told CNBC that his funds hold about $9 billion in assets, of which $1.3 billion consists of crypto investments. Each fund has a crypto allocation of 10% to 25%.
Photo: Courtesy of Gage Skidmore on Flickr
