Bitcoin Still Needs the $500K Moment to Earn Asset Class Status
At Consensus 2025, Bitcoin wasn’t just trending — it was being redefined. Anthony Scaramucci, CEO of SkyBridge Capital, dropped a hot take that echoed across the conference: BTC needs to hit $500,000 before the world starts calling it a real asset class.
Scaramucci broke it down with a finance-insider lens. “Three trillion is like a mag 7 stock. Twenty trillion is an asset class,” he said. His point? Market cap and perception go hand in hand — and BTC still has some stairs to climb.
The panel was stacked with names: Jonathan Steinberg (WisdomTree), Pasqual St-Jean (3iQ), and Andy Baehr (CoinDesk Indices) all joined the convo. The vibe? Bitcoin’s growing up, but it’s still not sitting at the grown-up table.
They agreed BTC is gaining real institutional cred, but price alone won’t cut it. Public awareness, infrastructure, and ease of access are just as important.
BTC vs. The Rest of Crypto
St-Jean made a key point: not all crypto is created equal. While Bitcoin’s getting attention, governance and utility tokens are harder sells to institutions. “They’re like, ‘What am I actually owning?’” he said.
Bottom line? Bitcoin’s not fully there yet, but it’s on the runway. If the $500K prediction plays out and infrastructure keeps improving, we might be looking at the next global asset class in real time.
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