Anthony Scaramucci's Bitcoin prediction
Anthony Scaramucci, the founder of Skybridge Capital, predicted that Bitcoin could reach a price of $170,000 during the current market cycle. He shared his optimistic prediction on CNBC's "Closing Bell," emphasizing Bitcoin's potential, especially amid increasing interest from mainstream and institutional investors. Scaramucci attributed the growth in part to the SEC's approval of Bitcoin spot ETFs, which attracted over $10 billion in the first quarter of the year.
Influence of Bitcoin Halving
Scaramucci pointed to the upcoming Bitcoin halving event, which will halve the daily supply of new Bitcoins, as a major factor that could cause a supply shortage and cause prices to rise. He believes that despite Bitcoin's price fluctuations, held over a four-year period, it could serve as an effective hedge against inflation and ultimately reach a market capitalization half that of gold.
Skybridge investment strategy
Skybridge was one of the early institutional adopters of Bitcoin and advocated for Bitcoin's inclusion in 401(k) retirement plans. Scaramucci remains long-term bullish on Bitcoin and sees it as an evolving digital store of value, citing the expected wealth transfer to Bitcoin-friendly demographics as a driver for significant future expansion.
Outlook on the maturation of the Bitcoin industry
Additionally, Scaramucci commented on the impact of FTX's collapse and related regulatory issues, but expressed optimism about the ongoing maturation and development of the Bitcoin industry.
The Bitcoin miner for your desk
