Famous financier Anthony Scaramucci has expressed his thoughts on Bitcoin‘s potential future value based on the recent halving event that took place on May 11th, 2020.
During a recent interview on Wealthion, the well-known Bitcoin advocate pointed out that the interest in Bitcoin from investors purchasing ETFs such as BlackRock and Ark Investment Management’s ARK Innovation ETF, among others, is fueling strong demand for Bitcoin. It’s important to note that the Bitcoin network generates just 450 new coins each day.
Most individuals are still unfamiliar with cryptocurrencies, specifically Bitcoin. In an attempt to clarify common inquiries, such as their applications and the impending halving event, I’ve prepared this video for your viewing pleasure.
— Anthony Scaramucci (@Scaramucci) April 19, 2024
After a demand surge that usually drives up prices, Bitcoin’s value tends to drop following a halving event. Scaramucci pointed out that some short-term investors cash out their gains, while fresh investors join the market.
He strongly believed in keeping Bitcoin for the long haul, unaffected by market swings, using Bitcoin’s impressive track record of growth over the past decade and a half as justification for its worth.
“I don’t mind if Bitcoin drops in value. I’ll just wait it out and hold onto it, after which it usually recovers. This pattern has held true for the past 14 years, making Bitcoin the top-performing asset globally that we’re aware of.”
“Join this Revolution”
Scaramucci cautioned against regarding Bitcoin as a gamble because of its unpredictability, yet he urged individuals to invest in it to join the groundbreaking cryptocurrency movement. He suggested starting with a modest investment to familiarize oneself with Bitcoin’s technological aspects and savor the thrill of participating in the digital currency sector.
Instead of viewing it as a lottery ticket, which is unpredictable and risky, be cautious. However, consider taking part in this revolution by investing a small amount in Bitcoin. Once you do, you’ll discover its intriguing technical aspects and be thrilled with your decision. (Scaramucci’s statement)
Up to $8 million for Bitcoin
Previously, Scaramucci shared his views on Bitcoin’s potential future value. He anticipates that its price could surge as high as $6-8 million, representing an increase of up to tenfold from its present value.
Although Scaramucci holds an optimistic view, he pointed out that Bitcoin doesn’t act as a robust inflation hedge or a fully developed store of value at the moment. He explained this by referring to the coin’s limited global usage. According to him, substantial developments won’t happen until Bitcoin reaches at least a billion users, which he anticipates around 2026.
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2024-04-20 14:20