“Berkshire Hathaway of the 21st century” is what legendary investor Anthony Scaramucci has compared Bitcoin to.
He likened Bitcoin’s current stage to that of Berkshire Hathaway’s early days, describing it as a “compounding, wealth-generating engine” for investors.
Using Bitcoin’s present trajectory and Berkshire Hathaway’s past success as examples, Scaramucci makes a daring comparison.
Unlike Berkshire Hathaway, bitcoin’s market value has grown at a much faster rate. Its increasing popularity and interest from investors are evident in this.
The current market capitalization of Bitcoin is $1.215 trillion, which is much more than Berkshire Hathaway’s $881.04 billion.
Not only has Bitcoin’s worth jumped so much, but it also threatens the status quo of established investing models.
Warren Buffett, chairman and chief executive officer of Berkshire Hathaway, has been an outspoken opponent of Bitcoin for quite some time, notwithstanding its meteoric rise.
Scaramucci has long been an outspoken supporter of Bitcoin, hailing it as a potentially game-changing asset.
From praising Bitcoin’s long-term direction as “crystal obvious” to drawing parallels between the cryptocurrency and Nvidia’s influence in artificial intelligence, his comments cover a wide variety of topics.
His remarks on Bitcoin ETFs, his comparison of Bitcoin to gold as a store of wealth, and his speculative thoughts on established investors, like Warren Buffett, someday realizing Bitcoin’s worth further demonstrate Scaramucci’s confidence.
U.Today reports that he has also criticized the unfavorable press surrounding Bitcoin ETFs in the lead-up to their latest rise.
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