As a seasoned researcher with a knack for following market trends and a keen interest in Bitcoin, I find Anthony Scaramucci’s optimistic outlook on BTC intriguing. His experience as a former White House Communications Director, coupled with his role at SkyBridge Capital, gives him a unique perspective on both the political and financial landscapes.
Anthony Scaramucci from SkyBridge Capital continues to express optimism towards Bitcoin (BTC), even amid current market fluctuations. Earlier, the ex-White House Communications Director predicted that BTC could reach $100,000 by the end of this year. Throughout 2021, Bitcoin and other digital currencies experienced substantial growth during Q1, followed by a general correction in value.
Anthony Scaramucci Is Still Bullish
In a recent CNBC interview, Anthony Scaramucci noted that Bitcoin price was decimated in 2022 due to industry and macro factors and significantly rebounded this year. The turnaround spiked following the approval of spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) adding that it’s the most successful ETF launch in history.
As an analyst, I find myself pondering over the question of whether Bitcoin (BTC) serves as a reliable store of value. In a recent discussion, Anthony Scaramucci from Skybridge Capital shed some light on this topic and expressed his belief that BTC could potentially reach $100,000.
— Squawk Box (@SquawkCNBC) August 22, 2024
He noted that Bitcoin will eventually get to $100,000 the previous timing will be delayed due to regulatory uncertainty, low sentiments due to crypto scams, etc.
“If someone had told me a year ago that Bitcoin would be around $60 after the halving, most people in the crypto industry would have been pleased. However, I underestimated it; my mistake was more about timing than the final outcome. I still believe Bitcoin will reach $100,000, but it’s taking longer due to increased regulatory challenges, uncertainties, some fraud exposures as you’re aware, and excessive leverage in the system.”
Bitcoin ETFs continue to play a crucial role in the rise of this digital asset, as highlighted by Anthony Scaramucci due to an influx of traditional investors. The Securities and Exchange Commission’s (SEC) approval has added credibility to the market, addressing earlier doubts. Consequently, leading institutions and companies have expanded their investment in Bitcoin.
Bitcoin Is A Store of Value
Anthony Scaramucci further commented that Bitcoin retains its role as a means for storing value alongside the recent spike in gold prices. In the past two years, gold has seen a 30% increase, yet some gold proponents have voiced concerns about Bitcoin’s growth following its peak in 2021. However, Scaramucci, founder of SkyBridge Capital, sees Bitcoin as a potential future store of value due to rising adoption, indicated by an increase in wallets and expanding global applications.
Over the recent months, the rising cost of Bitcoin aligns with this storyline. Presently, the BTC price is reported at approximately $60,796, marking a 1.55% rise over the past day.
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2024-08-22 18:32