Scaramucci Claims Bitcoin at $500K Would Confirm Crypto as Asset Class

At CoinDesk’s Consensus 2025 conference, Anthony Scaramucci of SkyBridge Capital discussed the evolving status of bitcoin as a potential asset class. Key points from the panel include:

Scaramucci suggests that a bitcoin price of $500,000 would lead to its recognition as an asset class.
Pasqual St-Jean states that bitcoin has surpassed hurdles faced by traditional assets like gold, emphasizing its accessibility and hedging capabilities.
The introduction of spot bitcoin ETFs in the U.S. is seen as pivotal for institutional acceptance, with Jonathan Steinberg noting that more bitcoin ETPs exist than S&P 500 ETFs.
Andy Baehr cautions that bitcoin's dominance may hinder understanding of other crypto assets and technologies.
Panelists agree that further infrastructure development, regulatory clarity, and diverse institutional products are essential for broader acceptance.
Scaramucci remains optimistic about the future, pointing to increasing capital flow into the space and potential bipartisan support amidst political risks.

The consensus indicates that while challenges remain, the groundwork for crypto's acceptance as an asset class is firmly established.