Founder of Tianqiao Capital: Bitcoin and gold have many similar attributes

Author: Jason Nelson, Decrypt; Compiler: Deng Tong, Golden Finance

JPMorgan Chase CEO Jamie Dimon said that he is worried about the current fiscal policy and is concerned about the market's response to " Soft landing" optimism is met with skepticism. While he has never mentioned Bitcoin — and he promised not to — US financier Anthony Scaramucci saidDimon’s risk-averse comments show he needs to “do more homework” on digital assets ".

It all started when Dimon said he was "cautious about everything" in an interview with CNBC at the annual Global High Yield and Leveraged Finance Conference in Miami.

"All of these factors that we're talking about - QT, fiscal spending deficits, geopolitics, these things could go on for years," Dimon said. "But they will play a role and have an impact, we just don't know what they are."

Dimon pointed to the ability of financial markets to change quickly and said that confidence in the market is currently high, but he Warn against focusing too much on short-term economic indicators and ignoring long-term trends.

“There’s more [M&A] talk, stocks are rising in the market, and spreads are near historic lows,” Dimon said. "There's a lot of money chasing high-yield deals, so things are open. The market is high and people are feeling it. "So, so far, so good. ”

In an interview with CNBC on Tuesday, SkyBridge Capital founder and managing partner Anthony Scaramucci was asked about Dimon’s remarks. Scaramucci said that even if the J.P. Morgan CEO is not One of the smartest people in the financial services industry. He then mentioned Dimon’s notorious criticism of Bitcoin.

“Jamie is a very smart man. "He's smarter than me, so I always listen to him," Scaramucci said. "Of course, he and I have differences on Bitcoin," Scaramucci said, criticizing the banking billionaire's limited knowledge of the top cryptocurrency.

"I just asked him to do more homework because someone like Paul Tudor Jones or Stan Druckenmiller, or someone like La People like Larry Fink, who have actually done their homework, may have been negative about Bitcoin before doing their homework," he said. "If you really do your homework to fully understand this asset, then this is a one-way ticket to Bitcoin."

Scaramucci said that one of the reasons to pay attention to Bitcoin is that The halving is coming around April 20th.

“If you look at the last 14 years, you typically get a quadruple gain after a halving,” he said.

Bitcoin halving occurs when the number of bitcoins awarded to cryptocurrency miners is cut in half every four years. The 64th and final halving will occur sometime in 2140, after which no new Bitcoins will be mined.

“Bitcoin is currently trading at $57,000; “I’m not sure what the price will be at the halving on April 20, but let’s say $50,000,” Scaramucci said. < strong> “This means it will take more than 18 months for the $200,000 Bitcoin price to halve.

“The price increase is mainly due to lack of supply,” he said.

Scaramucci pointed out that the recently approved spot Bitcoin ETF has pushed up demand beyond the available supply of Bitcoin. Demand is 12 to 14 times higher than Bitcoin’s daily production, causing its price to surge. .

"Of course, there are people who don't believe in Bitcoin and they are short Bitcoin, so they are suffering losses now," he said. “I think that’s why you’re seeing such huge price appreciation.”

He acknowledged his humility about markets and politics, but in his speech he reiterated his belief in Bitcoin and its move beyond gold Confidence in potential.

“Gold is a $16 trillion asset, and Bitcoin has many of the same properties as gold,” Scaramucci said. "I would say it's better than gold because it's easier to move. It should be at least half that. It's a trillion dollars now."

Dimon has made no secret of his support for BTC of disdain, once told Us magazine: Bitcoin should be shut down during testimony on Capitol Hill.

“The real uses of cryptocurrencies are criminals, drug dealers, money laundering, tax avoidance,” Dimon told lawmakers at a Senate Banking Committee hearing in December. "If I were the government, I would shut it down."

In January, the financial world waited to see whether the United States would take action. The U.S. Securities and Exchange Commission is set to approve a series of spot Bitcoin ETFs,Dimon has once again criticized Bitcoin, saying the digital asset has “no value.”