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A store of value asset with ‘a lot of room ahead’

Scaramucci views Bitcoin as the digital equivalent of gold.

“I'm making the case that this is a store of value asset. This is effectively digital gold,” he remarked during a recent Bloomberg interview.

The rise of Bitcoin is often attributed to people’s growing skepticism towards fiat money. Unlike fiat currencies, Bitcoin can’t be printed at will by central banks. Instead, the number of Bitcoins is capped at 21 million by mathematical algorithms.

Scaramucci says if we assume Bitcoin will one day achieve a status comparable to gold, the upside potential is significant.

“[Bitcoin] has a seven or $800 billion market cap today,” he explained. “If it were going to get that moniker of digital gold, it should trade to where gold is trading. And again, depending on days and markets, it's $10 to $12 trillion. So Bitcoin’s got a lot of room ahead.”

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How much should you invest in Bitcoin?

Considering this optimistic outlook, one question inevitably arises: how much should one invest in Bitcoin?

Despite being a staunch supporter, Scaramucci recommends only small exposure to the cryptocurrency.

“As it relates to an individual investor… I say 1-3%. If you're going to be aggressive, possibly 5%. But 1-3% is enough exposure where if we're right, it will impact your portfolio positively,” he said, adding that over time, Bitcoin could have a “decoupling effect” to stocks and bonds.

These days, it’s easy to add Bitcoin exposure to your portfolio.

Many platforms allow individual investors to buy and sell crypto. Just be aware that some exchanges charge up to 4% commission fees for each transaction. So look for apps that charge low or even zero commissions.

Bitcoin ETFs provide another option. For instance, the ProShares Bitcoin Strategy ETF (BITO) started trading on NYSE Arca in October 2021, marking the first U.S. Bitcoin-linked ETF on the market. The fund, which holds Bitcoin futures contracts, has an expense ratio of 0.95%.

Investors can also look into companies that have tied their growth to the crypto market. Bitcoin miners such as Riot Platforms (RIOT) and Marathon Digital Holdings (MARA), as well as intermediaries like Coinbase Global (COIN), could provide a starting point for further research.


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About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

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