Solana will ‘flip’ Ethereum, says Skybridge Capital’s Scaramucci

Anthony Scaramucci confirmed up at Solana Breakpoint in Abu Dhabi sporting a tie – a small act of riot in a sea of ​​hoodies – after which made a a lot larger one on stage: Solana goes to ‘flip’ Ethereum.

Scaramucci’s Solana prediction

Not within the Twitter warfare, zero-sum, ‘ETH is lifeless’ form of method. Extra like: identical competitors, totally different development curve, and Solana finally ends up getting the larger market cap. “I feel it’ll flip round Ethereum, however that does not imply Ethereum goes below or something like that. I feel there shall be market share for Ethereum. I feel they’ll each develop, however I feel Solana will finally develop sooner from a market cap perspective,” says Scaramucci told CoinDesk Reside on December 11.

That is been his line for some time. This time it got here with a prop: his new e-book, Solana Rising, which got here out on December 9 and – in response to Scaramucci – rapidly shot to the highest of Amazon’s “new releases” checklist within the funding administration/funding technique house. He framed the e-book as one thing for the skeptics, or at the least for the chums of the believers.

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The tone is acquainted in case you’ve been round crypto conferences this 12 months, however Scaramucci’s model is unusually blunt: Solana is the quickest rising chain, it is full of exercise, it is low cost to run and simple to construct. Then you definately add staking, and you’ve got what he retains calling “nice tokenomics.”

And sure, he’s closely aligned. “Full disclosure,” he mentioned, “I’ve a big private curiosity in Solana. I’ve it on the corporate’s steadiness sheet.” How huge? On SkyBridge’s steadiness sheet, he estimated it at “in all probability 60%”, with the corporate “north of a nine-figure steadiness sheet”. His private portfolio allocation, he estimates, is round “6% 7%.” Huge, however not “I bought the home for SOL” huge.

Notably, Scaramucci emphasised that he’s not “chain monogamous.” He likes Avalanche. He likes Ethereum. He would not follow maximalism. He makes a pockets. “Who’s a sequence monogamist anyway?” he joked.

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The Skybridge Capital founder added: “It isn’t a romantic factor. It simply has to do with the fact of investing. It is like having numerous shares in your portfolio. However for me, I simply suppose it is the quickest rising chain. That is essentially the most exercise of the highest 50 chains mixed. It has numerous use instances, numerous versatility. It is easy to construct on and it’s extremely low transaction charges and it has nice tokenomics. If you wish to stake your Solana like I do.

He additionally pointed to the debut of the primary spot Solana ETF in the USA – “first staking ETF” in his phrases – as a sign that we’re nonetheless early. Then got here the value dialog, due to course it was.

May SOL attain $300-$400 by the tip of subsequent 12 months? “Actually,” he mentioned, tying it to extra constructive U.S. regulation — particularly his hope that the CLARITY Act passes and unlocks “the complete use of tokenization.” On the long run, he continued: “Is Solana going to $1,000 within the subsequent 5 years? I actually imagine that.”

He additionally revisited Bitcoin. Similar ambiance: proper name, fallacious agenda. “I have been proper about Bitcoin, however I have been fallacious concerning the timing,” mentioned Scaramucci, sticking to a goal of $150,000-$200,000 and arguing {that a} friendlier rate of interest surroundings may assist subsequent 12 months.

On the time of writing, SOL was buying and selling at $139.14.

Featured picture created with DALL.E, chart from TradingView.com