This Altcoin Will Be The “Google” Of Crypto, Says SkyBridge Capital Founder Anthony Scaramucci

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SkyBridge Capital founder Anthony Scaramucci said Algorand (ALGO) will challenge major competitors in the crypto industry, just like Google did in the early days of the internet.

In a new interview with Digital Asset News, Scaramucci says he is investing heavily in ALGO because he believes it will replace many of its competitors.

“I have a quarter of a billion dollars in Algorand right now. I think Algorand will be the Google.

You and I, when we were young, connected to the Internet with AltaVista. We used Lycos, America Online – even Prodigy, if you remember. And then lo and behold, in 1998, this company came along, called Google, and people were like, “Why the hell do I need this?” I have all these other instruments to access the Internet,” and then people say, “Well, you know, it’s faster. It has machine learning, algorithms are more prevalent. It’s going to lead to better results,” and lo and behold, Google beat everyone else, and I think that’s going to happen with Algorand.

Algorand is a proof-of-stake blockchain that allows developers to build decentralized applications (dApps) for financial services. The smart contract platform is an Ethereum (ETH) challenger that aims to accelerate transaction speeds at lower cost.

“I think ultimately when big companies move to the tokenization side of the market and they start working in the DeFi (decentralized finance) world, they’re going to need something scalable like Algorand , secure like Algorand and ultimately decentralized, so they won’t have to worry about the capricious inflation-deflation of what they use as a form of value exchange.

Algorand for me is the future. It’s just going to require more and more people doing their due diligence and making the decision to choose it.

In an interview on CNBC’s Halftime Report in December, Scaramucci said Algorand has the potential to topple Ethereum, the leading smart contract platform today.

At the time of writing, ALGO is trading at $1.38.

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