Anthony Scaramucci of Skybridge Capital predicted that Bitcoin would reach $170,000 during the current cycle, in an interview on CNBC’s Closing Bell.
NEW: Skybridge’s Anthony Scaramucci says #Bitcoin Half-priced is not yet included in the price.
Predictions “$170000 for this cycle.” 🚀 pic.twitter.com/0uE4EAmwgS
— Bitcoin Magazine (@BitcoinMagazine) April 8, 2024
Scaramucci, whose Skybridge invests heavily in Bitcoin, has long been an advocate of the cryptocurrency. He pointed to the increasing adoption of Bitcoin by mainstream society and institutions as being key factors in its growth.
The former White House Director of Communications and prominent financier highlighted the importance of SEC-approved securities. Bitcoin spot ETFThis year, s has unlocked billions of dollars in new investment. He said that the $10 billion Bitcoin ETF inflows during Q1 were a positive contrast to the slow adoption of gold ETFs.
Scaramucci has also spoken about the forthcoming Bitcoin halving eventThis will have a dramatic impact on prices and reduce the daily supply. The market, according to him, hasn’t priced the supply halving in yet.
Scaramucci praised Bitcoin for its ability to hedge inflation over a 4 year investment period, even though it was volatile. Scaramucci also highlighted the narrative of digital gold. He thinks Bitcoin could surpass gold in terms of market capitalization.
Scaramucci is a Bitcoin enthusiast, and Skybridge was one of the first institutions to show interest. The company led the high-profile campaign to include Bitcoin in retirement 401(k), underscoring their commitment.
Scaramucci, despite some mainstream scepticism in the past years, has always maintained an optimistic long-term view of Bitcoin as a digital storehouse. According to him, generational wealth transfer and Bitcoin-friendly demography are the key factors that will drive massive growth.
Scaramucci spoke about the FTX crash, its effects, the regulatory issue, as well as his optimism for the future maturity of the Bitcoin industry.
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Source: bitcoinmagazine.com