Sovereign Wealth Funds are already gaining exposure to Bitcoin, but significant allocations won’t happen until the United States establishes clearer regulations for the digital assets industry, says SkyBridge founder Anthony Scaramucci.
“I think they are buying it, I think they are buying it on the margin,” Scaramucci, former White House director of communications during US President Donald Trump’s first term, said on Anthony Pompliano’s podcast on May 8.
Legislation will lead to “large blocks of buying”
“I don’t think it is going to be a gigantic groundswell of buying until we greenlight legislation in the United States,” he added. Scaramucci previously said in a February interview with the Financial Times that he expects the US government to propose crypto legislation in November.
SWFs are government-owned investment funds that manage national savings, often built from surplus revenues like oil profits or trade…
