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Scaramucci Says Buying Bitcoin Now Is Like Getting Manhattan Island for Pennies in 1626
SkyBridge Capital Founder Anthony Scaramucci frames Bitcoin as a once-in-a-lifetime real estate deal, akin to Peter Minuit’s legendary purchase of Manhattan Island.
He asserted that investors will reap the rewards that come with being an early adopter so long as they remain resilient amid volatility.
In parallel, Scaramucci stressed that buying Bitcoin around $111,000 is very cheap, comparable to when the Dutch acquired Manhattan in 1626.
Bitcoin Is Still Early
Scaramucci argues that the Bitcoin market is still in its infancy, likening it to Manhattan in 1690, undeveloped and without skyscrapers.
According to him, Bitcoin has not yet experienced the explosive growth that Manhattan did by 1990, suggesting the market still holds immense potential.
He noted that, even in 1690, some observers believed owning land in Manhattan was too expensive given the development at the time. Similarly, investors today may view Bitcoin as overvalued without recognizing its future upside.
Scaramucci emphasized that investors must understand the current opportunity of buying Bitcoin around the $100,000 mark—or risk missing out on a potential price surge and later calling it overpriced.
Amid his strong belief in Bitcoin’s prospects, he forecast a potential price of $200,000 this year. Yet, Scaramucci revealed that Solana is his top altcoin holding.
Meanwhile, Bitcoin set a new all-time high earlier today after its price surged to $111,999. It has since retraced slightly and is currently trading at $111,168.