Bitcoin won’t see ‘gigantic’ SWF buying until laws greenlit: Scaramucci
Sovereign Wealth Funds (SWFs) are gradually increasing their exposure to Bitcoin, but substantial investments will depend on clearer U.S. regulations for digital assets, according to SkyBridge founder Anthony Scaramucci. He noted that current purchases are modest and that significant buying will occur only after U.S. legislation is enacted. Scaramucci anticipates crypto regulation proposals from the U.S. government in November. SWFs, which manage national savings, include Norway's $1.73 trillion fund and China's $1.33 trillion fund. He indicated that if stablecoin regulations are established and banks receive guidance on custodying Bitcoin, a major influx of SWF investments could follow. Scaramucci suggested that this could lead to large purchases of Bitcoin, potentially pushing its price significantly higher. ARK Invest CEO Cathie Wood also mentioned an increased likelihood of Bitcoin reaching a seven-figure price by 2030 due to institutional adoption of the asset class.
