SkyBridge Founder: SWFs Will Massively Buy Bitcoin After Clear US Regulations Are Implemented

On May 10, according to Cointelegraph, SkyBridge founder Anthony Scaramucci stated that sovereign wealth funds (SWFs) have begun to engage with Bitcoin, but large-scale allocations will not occur until the U.S. establishes clearer regulations for the digital asset industry.

Scaramucci believes that if the U.S. passes stablecoin regulatory legislation, provides clear guidance for traditional banks on Bitcoin custody, and makes progress in the tokenization of stocks and bonds, SWFs may follow with large-scale purchases. He noted, "If you want to see Bitcoin reach $1 million, it will be when a sovereign fund declares it as part of the world's financial services infrastructure."

Norway has the world's largest SWF, managing assets of approximately $1.73 trillion, followed by China's $1.33 trillion. Bitcoin's current market capitalization is about $2.05 trillion. ARK Invest CEO Cathie Wood recently stated that the likelihood of Bitcoin reaching a seven-figure price by 2030 has increased.