TechFlow news, according to crypto.news, SkyBridge Capital founder Anthony Scaramucci said in an interview with Yahoo Finance that despite Bitcoin hitting new highs, investors should still pay attention to its volatility. He recommends investors adopt a holding period of at least four years, noting that Bitcoin has previously experienced a maximum drawdown of 82%, falling to $16,000–$17,000 in December 2022. Currently, Bitcoin has pulled back from its peak of $103,900.
Scaramucci believes approval of spot ETFs and participation by Wall Street institutions provide fundamental support for Bitcoin's price. He compares Bitcoin to gold, suggesting that if Bitcoin's market capitalization reaches that of gold, its price could increase tenfold. In his new book, "The Little Book of Bitcoin," he recommends allocating 2% of a portfolio to Bitcoin—a suggestion that MicroStrategy's Michael Saylor considers too conservative.
