Bitcoin Slips Below $64K As AI Tokens Surge; Anthony Scaramucci Says It's Still 'An Early-Adopting Technology'

Nvidia's upcoming earnings report is expected to be a significant event, with earnings per share projected to soar by 141% to $0.65 and revenue anticipated to reach $28.72 billion, an increase of 113% year-over-year. This would mark Nvidia's fifth consecutive quarter of triple-digit growth, demonstrating the strong performance of the tech sector. The Federal Reserve is also anticipated to lower interest rates in September, further supporting the tech industry.

In Bitcoin news, Anthony Scaramucci, founder of SkyBridge Capital, shared his perspective on Bitcoin's current status and its potential for the future. Although he does not see Bitcoin as a store of value at present, he acknowledges its potential to evolve into one in the future. However, he emphasized that significant regulatory challenges still need to be overcome.

Scaramucci also expressed his disapproval of certain market trends, such as the rise of meme coins like Grimace Coin. He believes that the U.S. Securities and Exchange Commission (SEC) would not appreciate this trend either. However, he remains optimistic about Bitcoin's broader acceptance, especially as financial advisors and registered investment advisors begin to advocate for its inclusion in investment portfolios.

Looking ahead, Alvin Kan, COO of Bitget Wallet, stated that the overall economic environment is still in a high-interest rate state, and Bitcoin's price breakthrough can only be achieved after the Federal Reserve starts to cut interest rates and the market becomes fully active.