Scaramucci Compares Algorand To Early Google – Says Its The Future
According to Anthony Scaramucci, the Founder of SkyBridge Capital, Algorand (ALGO) will rise as a credible challenger in the crypto industry, in the same manner as Google did in beginning of this century.
Scaramucci told Digital Asset News that he is heavily pouring money into ALGO because he believes that the project will overtake many of its rivals.
“I’ve got a quarter-billion dollars in Algorand right now. I think Algorand will be the Google.
You and I, when we were youngsters, we were logging onto the internet using AltaVista. We were using Lycos, America Online – even Prodigy, if you can remember that.
Then lo and behold in 1998, this company came along called Google and people were like, ‘Why the hell do I need that? I’ve got all of these other instruments to access the internet,’ and then people say, ‘Well, you know it’s faster. It has machine learning, the algorithms are more widespread. It’s going to lead to better outcomes,’ and lo and behold, Google trumped everybody, and I think that’s going to happen with Algorand.”
Algorand is a self-sustaining, decentralized, blockchain-based proof-of-stake network that supports a wide range of applications. The smart contract platform is an Ethereum (ETH) rival that is built to accelerate transaction speed at a lower cost.
“I think ultimately when the big enterprises get on to the tokenization side of the market and they start working in the world of DeFi (decentralized finance), they’ll need something that’s scalable like Algorand, secure like Algorand and ultimately decentralized, so they won’t have to worry about capricious inflation-deflation of what it is that they’re using as a form of exchange of value.
Algorand to me is the future. It’s just going to require more and more people doing deep dive due diligence and making the decision to choose it.”
Last month Scaramucci told CNBC’s Halftime Report that Algorand can potentially flip Ethereum, the leading smart contract platform.
At time of writing, ALGO trades at $1.40 up 1.7% on the 24-hour chart.
