Anthony Scaramucci, the founder and CEO of the Hedge Foundation Skybridge Capital, says the wave of companies adopting a Bitcoin
Treasury strategy is just a passing trend. In an interview with Bloomberg, Scaramucci said he expects the approach to losing speed in the coming months.
“Right now we have this replicative Treasury Company Side,” Scaramucci said. “Then you know it will fade.”
He suggested that investors may start to wonder why they pay extra for a company to keep an asset they could simply buy themselves.
The idea of using Bitcoin as a corporate school asset got traction in 2021 when the strategy (Mstr)A software developer led by Michael Saylor was the first major public company to do so. Saylor’s aggressive Bitcoin purchase made strategy a de facto bitcoin -investing vehicle that sent its share price increasing almost 3,000% since then.
The huge gains drew attention across business and elsewhere. A number of companies followed the strategy manager, including producer of medical devices Semler Scientific (Smlr)that announced his own Bitcoin Treasury strategy in May 2024, and Tokyo-based Metaplanet (3350)that started as a hotel management company.
The trend has not been limited to high -profile companies. Smaller companies, often penny storage, also jumped in, tried to raise capital or attract investor interest by adding Bitcoin or other cryptocurrencies to their balance.
What began as a focus on Bitcoin soon expanded to other digital assets. Some companies chose to buy ether
or XRP as part of their Treasury strategy and pushes the concept beyond its original extent.
Scaramucci acknowledged that Saylor’s success is unique and points to the company’s other business lines beyond Bitcoin Holdings.
“Saylor’s case is different because he has a few different products that are going now,” Scaramucci said in the interview with Bloomberg. “I’m not negative to the others because I’m too Bullish on Bitcoin, but I just want to say as an investor, you have to look through the underlying costs associated with each of these treasury companies.”
