There is no doubt that Ethereum is growing in importance amongst institutional players and deep-pocket investors. Recently, billionaire Mark Cuban stated that he sees Ethereum growing as a payment method, while Bitcoin morphs into a store of value. Another big institutional player, Anthony Scaramucci, has weighed in on the issue and sees Ethereum becoming a store of value.
Scaramucci, the head of Skybridge Capital, told CNBC that as an institutional player, he sees a lot of potential in Ethereum. He stated that the market for Ethereum is enormous and that the crypto’s fundamentals allow for significant growth. While his fund is mostly focused on Bitcoin, Scaramucci states that he is very open to the idea of funds focused on Ethereum. This is one reason he believes it could quickly turn into a store of value, just like Bitcoin.
This is quite interesting considering that Ethereum is one of the cryptos that seems to draw the most interest from institutional players. According to Coin Shares, Bitcoin takes up about 78% of the money that institutional players have put into crypto. The remaining amount is in Ethereum.
The data also shows that the amount of money flowing into crypto has shot up in the last quarter to hit a high of $59 billion. This shows that the top two cryptos’ institutional interest is growing, and Scaramucci’s vision for Ethereum could become a reality. One thing is sure, Ethereum is an exciting crypto to watch long-term.