Anthony Scaramucci, founder and managing partner of the hedge fund SkyBridge Capital, has likened Bitcoin to “digital property,” comparing its current price above $100,000 to that of Manhattan in 1690, which is “cheap.”
In a tweet posted by Bitcoin historian Pete Rizzo and accompanied by a video clip, Scaramucci draws parallels to Manhattan’s historic land sale, notably from 1690, implying that Bitcoin remains undervalued despite reaching six figures.
“This is digital property. You either see it, or you don’t,” Scaramucci remarked, reaffirming his long-held bullish view on the world’s largest cryptocurrency.
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Michael Saylor, Strategy’s cofounder and chairman, has made a similar comparison in times past. As Bitcoin reached new highs last December, Saylor compared it to New York City and its economy, referring to it as “cyber Manhattan.”
The reemergence of Scaramucci’s statements is significant, given that Bitcoin recently surpassed $112,000 to set new all-time highs.
Bitcoin hits new ATH
Bitcoin hit a fresh record on Wednesday afternoon as an Nvidia-led rally in equities helped push the price of the cryptocurrency higher into the stock market close.
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Bitcoin’s price was last up 1.08%, trading at $110,647, according to CoinMarketCap. Yesterday, it rose to $112,152, breaking the previous record of $111,999 set on May 22.
Despite billions of dollars flowing into Bitcoin exchange-traded funds, the flagship cryptocurrency has remained in a narrow range for several weeks. Institutional buying accelerated in the second quarter as Bitcoin purchases by public firms exceeded ETF inflows.
In Q2, public corporations acquired over 159,000 BTC, which Rizzo described as the “most in any quarter ever.”
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