SkyBridge Capital founder Anthony Scaramucci says that Algorand (ALGO) will challenge leading competitors in the crypto industry just as Google did in the early days of the internet.<\/span><\/p>\n In a new interview with Digital Asset News, Scaramucci says that he is investing heavily in ALGO because he thinks it will replace many of its competitors.<\/span><\/p>\n \u201cI\u2019ve got a quarter-billion dollars in Algorand right now. I think Algorand will be the Google.\u00a0<\/span><\/i><\/p>\n You and I, when we were youngsters, we were logging onto the internet using AltaVista. We were using Lycos, America Online \u2013 even Prodigy, if you can remember that. Then lo and behold in 1998, this company came along called Google and people were like, \u2018Why the hell do I need that? I\u2019ve got all of these other instruments to access the internet,\u2019 and then people say, \u2018Well, you know it\u2019s faster. It has machine learning, the algorithms are more widespread. It\u2019s going to lead to better outcomes,\u2019 and lo and behold, Google trumped everybody,\u00a0and I think that\u2019s going to happen with Algorand.\u201d<\/span><\/i><\/p>\n Algorand is a proof-of-stake blockchain that enables developers to build decentralized applications (dApps) for financial services. The smart contract platform is an Ethereum (ETH) challenger that aims to accelerate transaction speed at a lower cost.\u00a0<\/span><\/p>\n \u201cI 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\u2019ll need something that\u2019s scalable like <\/span><\/i>Algorand, secure like Algorand and ultimately decentralized, so they won\u2019t have to worry about capricious inflation-deflation of what it is that they\u2019re using as a form of exchange of <\/span><\/i>value.\u00a0 <\/span><\/i><\/p>\n Algorand to me is the future. It\u2019s just going to require more and more people doing deep dive due diligence and making the decision to choose it.\u201d<\/span><\/i><\/p>\n In an interview on CNBC\u2019s Halftime Report in December, Scaramucci said<\/a> that Algorand can potentially flip <\/span>Ethereum<\/span><\/a>, the leading smart contract platform today.\u00a0<\/span><\/p>\n At time of writing, <\/span>ALGO<\/span><\/a> is trading at $1.38.<\/span><\/p>\n https:\/\/www.youtube.com\/watch?v=2Q4U4s1101g<\/a><\/p>\n O<\/span><\/p>\n
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