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  • alright, we've given Bitcoin lots of props and airtime here.

  • It's, it's impressive.

  • It's bulletproof as Michael Saylor says it has low aspirations and he likes that because it'll stay out of the cross hairs of a lot of financial institutions, etcetera.

  • Let's talk about ethereum.

  • I know july 1st you announced that you're starting or have an ethereum fund, you can talk about that.

  • I look at these two currencies is almost like, you know, it's going to be a biblical tale, you know, one day.

  • It's almost like, you know, not cain and Abel but it's like these these two characters that are in a play very different, bring completely different things to the ecosystem, you know, one built in non inflationary one, not so much.

  • One bullet proof and low aspiration, one wants to reprogram the banking system.

  • Both super exciting.

  • Both very different.

  • Both very valuable I think.

  • Um what's your thoughts on ethereum?

  • Uh you said you were staying out of it for a while now you're in And also for me, ethereum equals decentralized finance, which is a conversation we need to have about really breaking down the centralized banking sector.

  • So tell me, what does the mooch think about ethereum?

  • Well, you know what I try to say to people when I got into Bitcoin because it's such a big leap for institutionalist to go into that space and many of them are still pooh poohing and and or naysayers, I didn't want to start going down chain into other coins because I wanted to at least establish a foothold explain why we were in Bitcoin and I was always saying to people we would ultimately be in other coins.

  • Uh And so july 1st we opened up our theory and fund.

  • We aggregated demand for its probably like 50 or $75 million in that fund right now.

  • Um a a theory um is different from Bitcoin.

  • Um I don't want to bore people with the explanation of how different it is but just no that ethereum has its own network and ethereum you're able to use the digital applications.

  • You're able to bolt onto a theory is block chain.

  • The ability to trade things like non fungible tokens or what we would call smart contracts and they can trade over theories Blockchain very easily.

  • There are other coins like that's Alana would be one of those Cardona would be one of those uh Al Durant.

  • And if you've heard of that coin would be one of those, each of them have varying benefits to their technologies.

  • So the real question is will Bitcoin be usurped by any of these.

  • There are people that think that the theory will usurp Bitcoin.

  • I don't know the answer to that.

  • I think you asked me gone to my head, I think Bitcoin remains the apex predator.

  • Uh It's defeated 8400 coins that have assaulted it over the last 12 years and has stayed as the apex predator.

  • But there are properties to things like a theory.

  • Um And a few of these other coins that I think will develop their own broad based networks and ecosystems.

  • Is there a gold and palladium?

  • Yes there is.

  • Is there a gold and platinum There is is there a coke and Pepsi?

  • Yes there was coke and Pepsi, there's dr pepper and Schweppes and so therefore there will be a few winners here.

  • Um I'm reminded of something that Mr Buffett said though at the turn of the century it was the year 2000 You said if you went back to the year 1900 and you looked in the phone book, every company had the name Motors in it.

  • And he said look at us today in the year 2000 every company has the.com in it.

  • And of course there will be a consolidation of the dot com industry the same way there was a consolidation motor industry, we got down to a few motor companies but everyone had motor in the name and I would say the same is probably true today there's lots of coins out there.

alright, we've given Bitcoin lots of props and airtime here.

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Anthony Scaramucci on Why Bitcoin & Ethereum Are Here To Stay ?

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    林宜悉 posted on 2021/09/19
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