Anthony Scaramucci, founder and CEO of SkyBridge Capital, expressed his agreement Saturday with billionaire hedge fund manager Philippe Laffont‘s views that Bitcoin BTC/USD has become central to investment portfolios.
What Happened: Scaramucci posted on X a CNBC story about Laffont’s Bitcoin advocacy during the recent Coinbase’s State of Crypto Summit in New York City.
“Coatue's Philippe Laffont is latest in long line of world's best fund managers to understand Bitcoin is the greatest macro investment of a generation,” the Bitcoin bull said.
Laffont, founder of tech-focused hedge fund Coatue Management, predicted that the apex cryptocurrency would become a key part of portfolios in the years to come.
Bitcoin accounts for a small amount of the world's net worth – about $2 trillion out of $500 trillion, he said. If one assumes Bitcoin will continue to grow and be seen as valuable by more people, then it "has to become more central" to a portfolio, CNBC quoted Laffont as saying.
That said, he advised investors to approach Bitcoin with “basic investing principles” and not let it dominate their portfolio.
See Also: Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — ‘Gold Used To Be That Money, BTC Is The Challenger’
Why It Matters: Laffont’s firm Coatue Management has invested in cryptocurrency companies before, including the $150 million investment into energy infrastructure operator and Bitcoin miner Hut 8 Corp. HUT last year. Before this, it invested over $69 million in on-chain analytics firm Dune Analytics in 2022.
Laffont wasn’t the first hedge fund investor to soften their stance on Bitcoin. Ray Dalio, founder of Bridgewater Associates, was critical of Bitcoin’s practicality as a currency or store of value back in 2017. Fast forward to 2025, the billionaire investor revealed that he owned Bitcoin and acknowledged its potential as an investment.
Scaramucci’s endorsement of Laffont’s views aligns with his own bullish stance on Bitcoin. He deemed the apex cryptocurrency as a form of hard currency, or cash, around which markets will mature, and hence, he won’t sell it anytime soon.
He calls Bitcoin the single best investment idea, having more than 55% of his wealth tied up in the asset.
Price Action: At the time of writing, BTC was exchanging hands at $105,908.21, up 0.28% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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