What does it take for an entrepreneur to recognize—and embrace—a groundbreaking technological innovation, especially when skepticism is the initial reaction? In this episode of The Angel Next Door Podcast, host Marcia Dawood explores this very question with special guest Anthony Scaramucci, diving deep into the evolution of trust, disruption, and adoption in the world of digital assets. Anthony Scaramucci, a renowned financier and author, candidly shares his decade-long journey from Bitcoin skeptic to blockchain advocate. Known for his roles in finance and politics, he details his transformation, inspired by his persistent curiosity and the pivotal influence of friends such as Michael Saylor. As the founder of Skybridge Capital and the author of The Little Book of Bitcoin and his latest book, Solana Rising, Anthony Scaramucci offers a unique perspective on making complex ideas accessible to mainstream investors. This episode covers the fundamentals of Bitcoin and blockchain, why cryptocurrency may be the “perfect money,” and how legacy institutions are slowly but surely embracing this technology—even as old systems resist change. Listeners will gain insight into the mechanics behind crypto, its potential to revolutionize everyday transactions, and the challenges that remain. If you’re wondering how digital currency fits into the future of entrepreneurship or curious about how big banks and regulators are shifting their stance, this conversation is an absolute must-listen.
What does it take for an entrepreneur to recognize—and embrace—a groundbreaking technological innovation, especially when skepticism is the initial reaction? In this episode of The Angel Next Door Podcast, host Marcia Dawood explores this very question with special guest Anthony Scaramucci, diving deep into the evolution of trust, disruption, and adoption in the world of digital assets.
Anthony Scaramucci, a renowned financier and author, candidly shares his decade-long journey from Bitcoin skeptic to blockchain advocate. Known for his roles in finance and politics, he details his transformation, inspired by his persistent curiosity and the pivotal influence of friends such as Michael Saylor. As the founder of Skybridge Capital and the author of The Little Book of Bitcoin and his latest book, Solana Rising, Anthony Scaramucci offers a unique perspective on making complex ideas accessible to mainstream investors.
This episode covers the fundamentals of Bitcoin and blockchain, why cryptocurrency may be the “perfect money,” and how legacy institutions are slowly but surely embracing this technology—even as old systems resist change. Listeners will gain insight into the mechanics behind crypto, its potential to revolutionize everyday transactions, and the challenges that remain. If you’re wondering how digital currency fits into the future of entrepreneurship or curious about how big banks and regulators are shifting their stance, this conversation is an absolute must-listen.
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The Little Book of Bitcoin: What You Need to Know that Wall Street Has Already Figured Out
Solana Rising: Investing in the Fast Lane of Crypto
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Marcia Dawood [00:00:02 - 00:00:05]:
Anthony, welcome to the Angel Next Door podcast.
Anthony Scaramucci [00:00:05 - 00:00:09]:
It's good to be here. I appreciate you including me, Marcia. Thank you.
Marcia Dawood [00:00:09 - 00:00:47]:
Yeah, well, we met because I saw you speaking about bitcoin, and I was fascinated at the journey that you've been on, because I know at the beginning you weren't necessarily a fan. You were a little skeptical. There was a lot going on. You then went on to write a book, the Little Book of Bitcoin, which I really enjoyed because it was taking a complex topic and really breaking it down for people so they could understand. You made some references to things like Kodak and Netflix and the gold standard. All these things that were like, oh, I knew about all those things, but you put it together in such a great way. So tell us a little bit about your history with crypto. Maybe start.
Marcia Dawood [00:00:47 - 00:00:53]:
Tell us a little bit about what is bitcoin? What is cryptocurrency in your words?
Anthony Scaramucci [00:00:55 - 00:01:30]:
Well, it's a lot of different things. So let me step back and talk about my initial skepticism, because I think that's important. If you are just told there's a cryptograph on the Internet and it's worth $91,000, which is the current price of this cryptograph on the Internet today, you would say, okay, well, that's ridiculous. Why would that be worth anything? All that is a cryptograph on the Internet. Okay, so let's start with that. That's was my original skepticism. It took me. I'm embarrassed to admit this to you, Marsha.
Anthony Scaramucci [00:01:30 - 00:01:51]:
It took me 10 years to go from that point of view to the point of view that I have now. So I didn't really understand it. I had a presentation made to me when bitcoin was like, $60. Poor me, I didn't understand it. I walked away from it. I had another presentation in 2014. It was at $1,000. Poor me didn't understand it.
Anthony Scaramucci [00:01:51 - 00:02:37]:
By 2017, I was like, okay, this is the third bell ringing for me. I better at least answer the call and start doing homework. So I'm going to answer it now because I think it's very important to understand. If you're a skeptic out there listening to Marcia's podcast, believe me, I completely understand your skepticism. And now I'm going to try to take you through my odyssey to where I am today, which is a bitcoin enthusiast and a general blockchain enthusiast. And so what I would say to you is, what these cryptographs actually are. They're a fully transparent spreadsheet. And what that is and why that's important is the way we tabulate income, the way we tabulate wealth since the Medici times is through a spreadsheet.
Anthony Scaramucci [00:02:37 - 00:03:07]:
And so your bank, as an example, is a spreadsheet. There's assets in your account. Let's say that I'm a car dealer. You want the car, you lower the assets in your account on the spreadsheet, the assets go up in my account, I deliver you a car. So to really understand how we circulate money and how we do transactions. Money is just a technology, Marcia, that we're using between each other so that we don't have to barter. And we pick something that we like or we pick something that we trust. And we've typically gotten that from a third party.
Anthony Scaramucci [00:03:07 - 00:03:42]:
And in this case, it would be the government. And so let me keep going, because I think this is important, because it is essential to this whole thesis, Understanding Money, what the concept is of money. And so Neil Ferguson, in the Ascent of Money, his book on the history of money, he gives us the things that we attribute money to. It's got to be scarce. It's got to be something that we both trust. It's got to be typically, because we don't trust each other as human beings, it has to come from a trusted third party. And if you go throughout history, it could be wampum, it could be a seashell. That's rare.
Anthony Scaramucci [00:03:43 - 00:04:44]:
It could be a gold or silver coin with an emperor's imprimatur or their face on the coin. It's something that we use as a token to exchange with each other in lieu of bartering. And so when you step back and think about it that way, all of a sudden, this cryptograph on the Internet is actually perfect money. Why is it perfect money? It's a hardened, fully transparent, fully distributed spreadsheet. We don't need a third party to transact with each other because we have hundreds of thousands of third parties, hundreds of thousands of third parties that are verifying the transaction. So if I want to send you value, Martha, I ask for your address on the Internet, and then I send you this cryptographic code. My digits go down, your digits go up. 180,000 nodes on the Internet verify the transaction, and we have a fully permissionless transaction without a third party.
Anthony Scaramucci [00:04:44 - 00:05:15]:
So that's a very unique thing, because throughout history, Marcia, we've always transacted using a third party. Let me give you an example. I'm going to go buy your house. Okay, well, you're going to send me wiring instructions that's going to go to my third party bank. I'm going to send it to your third party bank. You're going to get verification from that bank, and then you're going to hand me the deed. But over the Internet, using the blockchain, I can prove to you that the money left my account and ended up in your account. It's fully verified, can't come back to me.
Anthony Scaramucci [00:05:16 - 00:05:50]:
Okay, and you're comfortable with that. And that is a transformative thing. Because what that could do to a society potentially is it could delayer the society and it could eliminate wire fees, it could eliminate credit card fees. I could go to your restaurant and you serve me a beautiful meal, and I say, well, what's your wallet address? You tell me what it is. You say, the meal's $200. I then wire you from my phone to your phone over the blockchain. The money we just saved, three and a half percent in credit card fee. So all of a sudden, this idea, this technology becomes extremely valuable.
Anthony Scaramucci [00:05:50 - 00:06:38]:
And then are there tokens or are there pieces of property on the Internet that both of us would recognize having value? And if the answer to that is yes, well, it turns out bitcoin is one of those things. It's very scarce. There's only 21 million tokens. And as this caught on and as the wallets expanded in terms of the overall mushrooming of the network, as that wallet expanded, we got this amazing matrix of activity, amazing matrix of transactions. And lo and behold, bitcoin, because it's new still, it's got a lot of fud, fear, uncertainty and doubt. It goes up like this, but if you step back, it's generally gone way up. Since its inception, it started at a penny. It's now $91,000 or started at a half a penny.
Anthony Scaramucci [00:06:38 - 00:07:05]:
And so it's hardened money. It's a technological gift due to math and science that we now have on the Internet. So I don't know if I did such a great job of explaining it, but that's more or less the chapter and verse of my book. And that's more or less my odyssey. Didn't get it in the beginning, did not understand it. Michael Saylor, one of my friends who owns maybe $70 billion of Bitcoin, had a great line. He said, wow. Didn't understand that.
Anthony Scaramucci [00:07:05 - 00:07:28]:
He was a very big skeptic. Once he understood it, he was like, oh, my God, this is transformative. How do I set up a situation where I can buy more and more of it? And so when I finally Understood it. We at Skybridge put nine figures into it. I think our average price was about $20,000. We started buying at 16, we bought some at 40. Weighted average. The whole thing, it went up.
Anthony Scaramucci [00:07:28 - 00:07:45]:
We looked like geniuses. Marcia. It went down, we looked like dunces and now it's gone way up. And I don't think we're geniuses or dunces. I just think that we got involved with the technology that's being adopted and that's where we are right now. You know what I mean?
Marcia Dawood [00:07:45 - 00:08:08]:
Yeah. So we never thought we would be able to like Venmo, other people or so easily on your phone, be able to transact. Right, right. But you talk a lot about trust when it comes to currency and so talk a little bit more about that. And how far away do you think we are from that example you just gave about being in a restaurant and using the blockchain to pay?
Anthony Scaramucci [00:08:08 - 00:08:28]:
Such. Such a great question. Yes. I think that we are three to five years away. I don't think it's eminent. I think we were slowed down by the prior administration. I think that if we had the current regulatory rubric in place, we would already be there. But here's what happens.
Anthony Scaramucci [00:08:28 - 00:08:49]:
The banks don't like this. Why would the banks like this? Well, there's going to be no more credit card fees. Well, banks like that. No, they wouldn't like that because they earn a 3 1/2% charge on these fees. There'll be no more wire fees. Well, the banks make money on administration and wire fees. Why would that. So they lobby the American Congress and they tell them, hey, please don't allow for this new technology.
Anthony Scaramucci [00:08:50 - 00:09:07]:
Right. We have a horse and buggy. We get around town with the horse and buggy. Don't let the horseless carriage come in. If you remember, in most of the urban cities, Uber was an important ride sharing technology. It was innovative. It would reduce costs, increase supply. The taxicabs didn't like it.
Anthony Scaramucci [00:09:07 - 00:09:31]:
The mayors were lobbied by the taxicab lobbyists and they said they didn't like it. And on it goes. So. So that's the story. And I will tell you something. We're going to get there and I'm going to tell you something that's axiomatic about this. If you have a new technology and you have a new technology that is better than the old technology, guess what happens? It gets adopted. The cabs didn't want Uber.
Anthony Scaramucci [00:09:31 - 00:09:54]:
The mayor didn't want Uber. But Marcia, who wanted Uber? The people. The people wanted Uber. Okay? And so this is A technology that's going to save people money. If you go to ChatGPT. And again, I don't know if this is 100% accurate. I've asked my research team, they think it is, but I'll share it with you. The estimate is about $4 trillion of transaction verifications take place globally.
Anthony Scaramucci [00:09:54 - 00:10:47]:
So that would be a credit card fee, that would be a wiring fee, an admin fee, that would be also including closing of a house, the money that goes to the lawyer and the money that goes to the bank, and all the different closing fees to verify the sale or the purchase of the house. And so if you told me we had technology where we can make these things go faster and we could then lower the cost, I would say, okay, that's going to get adopted. Now, one last point before we go to another question. I am talking to you right now over zoom. This is a technology we didn't have 40 years ago that we're now in the George Jetson realm where we can do this over zoom. But I just want you to imagine 40 years ago I was walking into a post office in Rome and I was asking for an AT and T card, which gave me a unit of time to call my parents. It was $15. I could call my parents for five minutes.
Anthony Scaramucci [00:10:47 - 00:11:01]:
It was $3aminute. Now I can go anywhere in the world and hook up into a cafe's Internet and I can make a George Jetson call to my parents. So, so is this a better technology? Yes. Is it costless and.
Marcia Dawood [00:11:02 - 00:11:02]:
Yes.
Anthony Scaramucci [00:11:03 - 00:11:43]:
So did it get adopted? Yes, it did. And now you see the direction I'm going in as it relates to the blockchain and as it relates to things like Bitcoin. And so I submit to you that Bitcoin will be a digital, a technology that registers with human society as a store of value as it gets scaled and adopted. And so it's about a $2 trillion market capitalization now and gold is about a $40 trillion more capital. It went up a lot this year, as we both know. But if Bitcoin just got to half of the valuation of gold, it's a 10x from here. And I believe it's not my generation. I'm going to be 62 years old.
Anthony Scaramucci [00:11:43 - 00:12:20]:
I'm talking about a 40 year old, I'm talking about a 35 year old 10 years from now will be running an asset management company at age 45, in his or her prime. And they're going to be very comfortable with Bitcoin. They grew up in a digital age, they played video games, they've been online since the beginning of their lives, and they're very comfortable holding Bitcoin as a store of value or as something that I would refer to as digital gold. So, okay, so that's my soliloquy. I'm sorry I was so long winded, but I think it's impossible to explain Bitcoin in a few sentences. It needs a little bit more and it needs some examples.
Marcia Dawood [00:12:20 - 00:12:42]:
Yeah. Now in your book you talked about there were hiccups at the beginning when Bitcoin's infrastructure first came or the blockchain's infrastructure first came online and there was fraud. And has, has all of that been reconciled? Do we think that could happen again? At one point there was a bunch of Bitcoin that was stolen out of.
Anthony Scaramucci [00:12:42 - 00:13:18]:
A. Yeah, okay, so now this is very good. So this is important to distinguish the two. The cryptograph Bitcoin and the transaction register going back and forth has never been hacked. It's been up and running for 17 years. It's never been hacked. What has happened? If I got access to your key phrase, your password, and I got access to your wallet, I could go into your wallet, I could attack you and take your Bitcoin from your wallet. See the difference?
Marcia Dawood [00:13:18 - 00:13:18]:
Yes.
Anthony Scaramucci [00:13:18 - 00:14:10]:
But the actual network itself, there's been nothing that's hacked the network. Now a lot of Bitcoin naysayers say, yeah, well, that's true, but there will be quantum computing in our lifetime. And when quantum computing comes, the mass and machinations of the quantum compute will be such. It will crack the passwords, it'll crack codes, and it'll destroy Bitcoin. A couple of things on that. Number one, if that's true, it's going to crack your bank and it's going to destroy your bank. And if that's true, it's going to crack the federal government and destroy the federal government. And what typically happens is, which has happened over the last 60 years of computer science and computer development, as the computers become more sophisticated, the software and the computational blocking, if you will, in terms of the passcodes and the interference to protect the network also goes up.
Anthony Scaramucci [00:14:10 - 00:14:55]:
It's like this match sailing race. And so I would make the case that yes, quantum computing is a threat, but not just to Bitcoin. It would be a threat to the whole banking system, the Pentagon, et cetera. But we're going to be developing quantum resistant computation, okay, to protect and defend Bitcoin as well as our banking industry, our telecommunications, this network that we're talking on etc. So. So again, it's a hard thing to understand. It's a very small drop in the buckets still in terms of the people that own it. But I predict as it mainstreams, as fidelity brought an ETF, BlackRock, one of the largest asset managers in the world, brought an etf, more and more people are getting this educational process and they're starting to understand it.
Anthony Scaramucci [00:14:55 - 00:15:14]:
And what I said to my clients five years ago, I said, you guys have to own it. I believe I understand it. I don't want you to be left out. And I'm going to purchase it for you. And we're going to purchase it in a reasonable amount of size. So that's what we're right. It'll be very successful for people and thus far, touch on wood. Knock on wood.
Anthony Scaramucci [00:15:14 - 00:15:24]:
We've been right. But it hasn't come without volatility. It hasn't come without uncertainty. It hasn't come with a lot of doubt about this because it is a new technology, right?
Marcia Dawood [00:15:24 - 00:16:03]:
So when you're talking about all of the things that this can replace, like the title companies, the credit card fees, all that type of stuff, like I'm imagining a world until we get to the point where we can just transact through the blockchain on our phone or whatever, in a couple years, there'll be a time when we'll have both of those things existing in parallel. So what are the fidelities or the big banks going to do? And all of these, the infrastructure that we have now, what's. How do you see that kind of moving over into using blockchain more in Bitcoin and coins in general?
Anthony Scaramucci [00:16:03 - 00:16:22]:
Okay, so let's talk about JP Morgan for a second. So one of the big skeptics on Bitcoin was Jamie Dimon, the CEO. He called it a pet rock. He said it was. He said it was a Ponzi scheme, a decentralized Ponzi scheme. He said all these different things about bitcoin. Very negative on it. But also remember, he's behooved to the American Senate.
Anthony Scaramucci [00:16:22 - 00:16:54]:
He's behooved to the regulators. And people like Elizabeth Warren hate bitcoin. She's on the Senate Banking Committee. So he has to talk his book. He's also making his money off of the old rails of financial technology and et cetera. But JP Morgan has spent hundreds of millions of dollars investing in the blockchain. They have their own token that they use in terms of internal transfers. They've adopted and put some funds They've tokenized some of their funds to make them easier to sell and move on the blockchain and move them back and forth.
Anthony Scaramucci [00:16:55 - 00:17:50]:
And JP Morgan recently has said, okay, we've now accepted because of this widespread introduction of the ETFs and you have a Q SIP number and it's easy to own Bitcoin in your brokerage account that will actually use Bitcoin as a form of collateral. So if you own Bitcoin at JP Morgan, let's say you bought the BlackRock Bitcoin Trust, you have a million dollars of it. We'll give you a 25% loan to value on it. So you could borrow $250,000 of collateral from our bank. Sorry, borrow $250,000 of borrowings using Bitcoin as collateral. So the banks are starting to adapt it. One of the things that the regulators would have to do for the banks is give the banks regulatory approval to allow for full custody of Bitcoin. Right now you can custody your wrapped Bitcoin in an electronically traded fund, an etf, but you can't actually own the actual Bitcoin at a bank.
Anthony Scaramucci [00:17:50 - 00:18:41]:
You can't own it at Coinbase, you can't own it at Fidelity. You can own it at places like Galaxy, Mike Novograss's firm, but they're not regulated by the Federal Reserve and they're not inside the commercial or SNL banking system, if you will. So I predict that's coming. I predict that there will be legislation over the next 15 to 20 months that outline how a bank will be able to hold Bitcoin in custody. And then once it's able to do that, you'll see some Bitcoin related transactions. Now JP Morgan, interestingly enough last week, they are floating a bond where if you lend money, it's based off of the price of Bitcoin and there's certain levers in it to protect your downside. You also get your upside capped if it goes way, way up. But you earn a certain coupon and some percentage of the appreciation of Bitcoin.
Anthony Scaramucci [00:18:42 - 00:19:24]:
But a Bitcoin couple technically went to zero. You've got a floor in there too, through their derivative strategy. So it is starting to happen, Marcy. We are now starting to see Bitcoin related products that are being offered by traditional firms. You're speaking to me on a very interesting day because 24 short hours ago, Vanguard, when the ETFs came into vogue, Vanguard said, no, we're not going to have Bitcoin as part of our stable of ETFs. That was January of 2024, it's now November of 2025. They have relented and they said, okay, we're going to allow that now we made a mistake. We're going to allow that.
Anthony Scaramucci [00:19:24 - 00:20:18]:
Bank America, which has one of the largest brokerage firms, retail brokerage firms in the world, embedded inside of bank of America. Merrill lynch, they purchased that during the global financial crisis. They just said, well, we like Bitcoin now and we're going to allow our customers at our bank, through the ETF, they can own a 4% exposure to Bitcoin in terms of their total return portfolio. So again, along the lines that this is starting to mainstream, starting to become popular. I believe as a securities analyst, 37 years in the business, that Bitcoin will benchmark off of gold and coin will be worth minimum, in my opinion, at least half of the total market capitalization of gold. Over time, it'll become a full fledged asset class. And I think it has a lot of room to grow here. I think it could be, probably take five to seven years, maybe a touch longer.
Anthony Scaramucci [00:20:18 - 00:20:44]:
It could go from 90,000 to a million dollars a coin as people start to adopt it again, not overnight, right? Certainly if you look at the 17 years, it did go from a penny to $91,000. Historically incredible return, probably the best return in US economic history. But I'm not saying it's going to do that again. But I do think as it matures, it'll get to a level something like half of the market capitalization of gold.
Marcia Dawood [00:20:46 - 00:21:24]:
Very interesting. Sue, you mentioned about the average investor can now buy Bitcoin through an etf, which makes it much, much easier than if you tried to go buy it outright. How do you see that changing? So that if somebody did want to go buy a piece of Bitcoin without having to go through all of the things that you have to. I did an entire podcast episode on me trying to buy three different coins. One that was pretty well known, one that wasn't so well known and was definitely not well known. And it was quite the gymnastics that I had to go through. So where do you see that headed?
Anthony Scaramucci [00:21:28 - 00:21:49]:
Good question. I. I don't know. The answer is the honest answer to the question. It could go in a number of different ways. I think I'm going to say some things that I believe are axiomatic facts. I'm not trying to evade the question, but I think it's important you know this from your experience in wealth management and venture capital. If you don't know something is better off saying that you don't know.
Anthony Scaramucci [00:21:49 - 00:22:16]:
I would just say axiomatically, I think gold will always be with us. I think axiomatically will be perceived as store of value. It has been for 5,000 years. It will be for the next 5,000 years. I think that Bitcoin, I think will emerge as part of that because we now have the technology to support it and the electricity. But how it unfolds and what the mechanisms are, I don't know. But I'll leave you with this parable and I want you to think about it. I'm going to take you back to 1998.
Anthony Scaramucci [00:22:16 - 00:23:04]:
Both of us are old enough to remember that year, okay? And you had a fat box computer somewhere in your life. And underneath that computer was a dial up modem. When you were going to go log onto the Internet, you bird and hummed and maybe you went to all Civita Ask Jeeves, maybe you went to Yahoo, you went to some archaic search engine, aol. Okay, okay. You got your email from aol. And because you're a clever, forward thinking person, maybe you bought a book from Amazon back in that day and maybe you bought a Pez gun from ebay. Now, let's say I transported from 2025 and I met you in that study 27 short years ago. And I said, hey Marcia, guess what? You see what you're doing right now, this clunky technology, it's very hard to maneuver.
Anthony Scaramucci [00:23:05 - 00:23:34]:
It's not really working that well. Let me tell you what's going to happen in 27 short years. You're going to be in a flat screen computer. You're going to have broadband technology. So there's going to be billions of people downloading 4K video from the Internet. It's going to wipe out that blockbuster down the block. As hard as that is to believe, because I know it's super popular, it's also going to translate into trillions of dollars of transactions. Amazon's going to go to a $4 trillion market capitalization.
Anthony Scaramucci [00:23:34 - 00:24:06]:
They'll control more than half of the retail on the Internet. And guess what? You and I are going to be talking to each other over this thing called the Internet. And it's going to unleash a tremendous amount of productivity in our societies. And think about the introduction of all the social media and the streaming. And you get exactly on YouTube, the proliferation of YouTube. But you couldn't see it in 1998. This clunky dial up, you couldn't see it. But what happens is it iterates Marcia.
Anthony Scaramucci [00:24:06 - 00:24:19]:
And it evolves and then it moves exponentially. And over that 27 year period of time. Look at the envelope of all of this. You know what I mean?
Marcia Dawood [00:24:19 - 00:24:25]:
It is 100%. It is amazing. So who knows what will happen over the next several years?
Anthony Scaramucci [00:24:28 - 00:24:33]:
That's my. That's my story, and I'm sticking to it. Marcia, I love it.
Marcia Dawood [00:24:33 - 00:24:44]:
One more question before I let you go. So then we talked a lot about Bitcoin. What about the other coins that are out there? How should we think about that or evaluate that when we're thinking about our crypto portfolio?
Anthony Scaramucci [00:24:44 - 00:25:15]:
Very good question. So Bitcoin is a. And again, not to get totally crazy with you, but it's a proof of work mechanism on the Internet. You have to do these mathematical equations to earn Bitcoin. And when you share the bitcoin back and forth with each other, there's a lot of math surrounding it. The way something like a Solana or an Ethereum works is called proof of stake. Everybody puts up their stake on the Internet and then the transactions are verified through that staking process. And so that's a faster way of doing it.
Anthony Scaramucci [00:25:16 - 00:26:02]:
It's less costly and it uses less electricity, and you can get a lot of transactions through the pipe very quickly if you're using proof of stake versus proof of work. And so a group of computer programmers got a look at Bitcoin and said, wow, this thing is fascinating. This guy named Vitalik Buterin said, bitcoin's fascinating. I'm a big bitcoin person, but I think we can develop a different technology on the blockchain. He called it Ethereum. And we could use it to create a tokenized world where we can actually take contracts. We can have a layer one technology and then put an additional layer on it, a smart contract, and we can run it over the rail system of Ethereum or Solana. I'm going to promote my book, if you don't mind.
Anthony Scaramucci [00:26:02 - 00:26:45]:
I just wrote a book about Solana, which is the sister book to the bitcoin book I wrote last year. It's coming out in a few weeks. I'll send you a copy. But it just describes that process. And basically something like Solana or something like Ethereum, what you can do is you can tokenize things. So instead of me having a stock with a Q sip and say, I want to sell my stock to you, well, it's got to go through seven different agents and DTC before it transfers into your account. Now, when I got in the business, that was trade day plus five days took a very long time and now it's trade day plus one day. But if we did it over the blockchain if we did it over the blockchain we could do it in a few minutes.
Anthony Scaramucci [00:26:46 - 00:27:16]:
And so I'm predicting Larry Fink is predicting very smart people in the future of finance. Even Jamie Dimon is predicting is that we will use the blockchain to tokenize stocks and bonds and potentially real estate and we will be able to use this rail system and trade with each other frictionless without lots of costs that have typically been associated with these transactions over the years. Just better technology to be used in our transactions with each other.
Marcia Dawood [00:27:17 - 00:27:22]:
Amazing. So lots of good things to come. Well Anthony, thank you so much for being on the show today. Really appreciate it.
Anthony Scaramucci [00:27:22 - 00:27:30]:
It was great to be on. Thank you for I'm a long winded dude. I'm sorry Marsha but I trying to explain it all. Thank you thank you for having me.