Why Anthony Scaramucci Says Investors 'Need To Own' Bitcoin, Ethereum

When people understand cryptocurrency, they want to own it, but when they don't understand it, they fear it, SkyBridge Capital's Anthony Scaramucci said Friday on CNBC's "Squawk Box."

This is still the early frontier of decentralized finance. Cryptocurrency is "the future of finance," said Scaramucci, formerly the communications director in the Trump White House. 

The decentralization of the crypto community is very powerful and creates a risk diffusion, he said. 

Related Link: Jack Dorsey Pulls An Elon Musk As Bitcoin Bull Continues To Engage With Irked Ethereum Backers

"We want to educate our investors about why they need to own some Bitcoin BTC/USD, why they need to own some Ethereum ETH/USD and be part of this long-term trend."

Why Own Crypto? A $10,000 investment in Amazon.com Inc AMZN when it became public in 1997, would be worth approximately $21 million today, Scarramucci told CNBC. 

Amazon experienced multiple significant sell-offs during its early days in the public markets as a result of fear, uncertainty and doubt, he said.

Bitcoin has been subject to much of the same, as it's currently in its "early, early innings," Scaramucci said. 

"If Cathie Wood is right — and I believe she will be — there will be 1 billion users of Bitcoin by the end of 2025 ... you have to ride that wave if you believe this story," he said. 

BTC Price Action: Bitcoin is up 59.94% year-to-date.

At last check Friday, Bitcoin was up 4.25% at $46,329.