During a 2024 interview, SkyBridge Capital founder Anthony Scaramucci likened Bitcoin BTC/USD to one of Wall Street's most iconic stocks, Berkshire Hathaway BRK BRK, putting his weight behind cryptocurrency’s legitimacy as a long-term investment.

What Happened: Scaramucci posited Bitcoin as a modern-day store of value, deserving the same vein of patient investing conventionally associated with legacy companies. "We are now fully in a digital world and this [Bitcoin] is a value store," he told Yahoo Finance.

"I think of Berkshire Hathaway as a value storage company. I’m a long-term holder of Berkshire Hathaway—27 years I've held that stock—of course it served me very well, and I think Bitcoin is something that people need to think about in terms of multiple-decade holding." He added, "I know Charlie Munger hated Bitcoin and Mr. [Warren] Buffett called it rat poison, but I have typically found that people that are not focusing on it are prone to overlooking its long-term potential.

In a March 2024 post on X, Scaramucci wrote, "Bitcoin is the Berkshire Hathaway of the 21st century – a compounding, wealth-generating machine for investors. “It was never ‘too late’ to buy Berkshire stock. It is still very very early for Bitcoin."

See Also: Warren Buffett Ditches Bitcoin-Linked Nu Holdings, Adds To Constellation Brands, Domino’s Pizza, Pool Corp Stakes

Why It Matters: Scaramucci has continued his vocal support of Bitcoin, stating earlier this week, “…Bitcoin can get to $500,000, people will be writing stories that Bitcoin is an asset class." He stressed that for Bitcoin to be viewed as a distinct asset class, it must reach a market value comparable to gold's current $21 trillion capitalization.

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In another interview this week, he observed that bitcoin is transforming from a "tech asset" into something "akin to digital gold."

Since Scaramucci called Bitcoin the “21st century’s Berkshire Hathaway” on March 4, 2024, the cryptocurrency has surged 67.43%, rising from $61,980 to $103,777.

In comparison, Berkshire Hathaway’s Class A shares have gained 23.68%, moving from $611,955 to $754,154, while Class B shares have risen 24.61%, from $407.11 to $507.33 — both significantly underperforming Bitcoin during the same period.

For broader context, Bitcoin’s all-time return stands at an astonishing 167,725,764%, while Berkshire Hathaway Class A shares have gained 40,821%, and Class B shares have risen 2,013%.

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