April 20, 2024
Altcoin News

An Altcoin To Be The Google Of Crypto – SkyBridge Capital Founder Anthony Scaramucci Explains

It seems that the crypto market is making efforts to regain its losses due to the latest price corrections. At the moment of writing this article, BTC is trading in the green and the king coin is priced above $43k.

There are various predictions about the prices of digital assets and the latest one is about an altcoin which is said to have the ability to become the Google of crypto.

ALGO to become the Google of crypto

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.

During a new interview with Digital Asset News, Scaramucci said that he is investing heavily in ALGO because he thinks it will replace many of its competitors.

“I’ve got a quarter-billion dollars in Algorand right now. I think Algorand will be the Google.”

He continued and explained the following:

“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.”

Just to refresh your memory, Algorand is a proof-of-stake blockchain that enables developers to build dApps for financial services.

The smart contract platform is an Ethereum (ETH) challenger that aims to accelerate transaction speed at a lower cost.

Check out what more Scaramucci had to say:

“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.”

Stay tuned for more news from the crypto space.

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