Anthony Scaramucci Says It’ll Be A ‘Big Deal’ If Jamie Dimon-Led JPMorgan Allows Lending Against Bitcoin
Anthony Scaramucci, the founder of SkyBridge Capital, said Monday that JPMorgan Chase & Co.’s (NYSE:JPM) reported plan to allow clients to borrow against their Bitcoin (CRYPTO: BTC) holdings has the potential to change the financial dynamics of the leading cryptocurrency.
What Happened: In an X post, Scaramucci described the banking behemoth’s reported plans to offer loans backed by Bitcoin as a “big deal.” He said the current Bitcoin market hasn’t been fully tapped for traditional financial mechanisms such as loans.
“Imagine how much houses would be worth in a world with no mortgages. That’s the reality we’ve been living in with Bitcoin, but that’s about to change,” Scaramucci stated.
Scaramucci also highlighted the potential for large holders to swap Bitcoin for exchange-traded fund shares without realizing capital gains tax, should the SEC approve in-kind creation and redemption.
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