The most prominent voices from the financial circle and well known asset managers are discussing the future status of bitcoin. The crux of their discussion is when bitcoin will get an asset class status.
One thing is clear as they agreed on one thing: Bitcoin is rapidly approaching full recognition as a legitimate asset class—but it’s not quite there yet.
At the Consensus 2025, Anthony Scaramucci, founder and CEO of SkyBridge Capital, offered a compelling benchmark: Three trillion is like a mag 7 stock. Twenty trillion is an asset class. So if you tell me Bitcoin can hit $500,000, people will start calling it an asset class.
Scaramucci’s statement set the tone for a high-energy discussion that brought together other heavyweights in finance and crypto, including Jonathan Steinberg, CEO of WisdomTree; Pasqual St-Jean, President and CEO of 3iQ; and Andy Baehr of CoinDesk Indices.
The Panelists strongly believe that digital assets, especially Bitcoin, are gradually gaining institutional credibility. However, they mentioned that price by itself won’t bring them there, awareness among users is equally important.
They all believe that education and awareness can play a crucial role in actual adoption rather than market capitalisation.
Pasqual St-Jean pointed out that bitcoin already checks several of the boxes required for institutional investment, comparing it favorably to traditional assets like gold. “It has hedging mechanisms, it’s available in various wrappers, and it’s easier to understand. It’s the digital gold of our digital era,” he said.
St-Jean also drew a sharp line between bitcoin and other forms of crypto, such as governance or utility tokens, which he said are harder for traditional institutions to get comfortable with. “When it comes to governance tokens, institutions often ask, ‘What exactly am I owning?’ It’s a harder sell.”
Bitcoin may not have fully crossed the finish line, but it’s well on its way—and once the necessary infrastructure and understanding are in place, the digital asset could finally earn its spot as a core part of the institutional investment landscape.
Also read: Peter Schiff Mocks Saylor Over Bitcoin’s Unexpected Use Case
