Anthony Scaramucci Predicts Crypto Boom: Bitcoin and Ethereum Set to Hit New Highs
SkyBridge Capital CEO Anthony Scaramucci has made a bold prediction about the future of cryptocurrency, forecasting significant gains for Bitcoin and Ethereum. In a recent interview, he shared his expectations for Bitcoin to soar nearly 300% and Ethereum to surge about 240% from their current values.
What Happened
During an interview with Unchained last week, Scaramucci projected that Bitcoin could reach a value between $170,000 to $250,000 and Ethereum could hit $10,000 to $12,000.
"I can only give you my guess and so I think we get to $10,000 to $12,000 on Ethereum. And I do think we get to somewhere [between] $170,000 to $250,000 on Bitcoin," he said. "The number one thing for me is somebody is going to declare Bitcoin an asset class."
Institutional Investments and Asset Classification
Scaramucci believes that major institutional consultants will soon recognize Bitcoin as an asset class. This, in turn:
"And somebody is going to declare Bitcoin an asset class, and then offer a suggestion that Bitcoin should be 1%, 2%, 3% of an institutional tactical asset allocated portfolio. And when that happens, it's going to open up a huge vein of demand for Bitcoin," he added.
Political Influence: Biden’s Election Win
Scaramucci speculated that a win for President Joe Biden in the upcoming election could be a catalyst for new all-time highs in crypto. He said, “I think we'll see all-time highs for Bitcoin and other assets in this category during a second Biden administration.”
Increased Adoption by Institutional Investors
He also highlighted the growing trend of institutional investors adopting Bitcoin. For example, Wisconsin recently announced holding about $160 million worth of Bitcoin.
"I think that's happening, and that will create an acceleration of adoption and an acceleration upward in price," Scaramucci explained.
Why It Matters
Scaramucci’s bullish predictions for Bitcoin and Ethereum are not new. Earlier in April, he had already pointed to a promising future for Bitcoin, emphasizing:
- Increasing demand and decreasing supply.
- The potential impact of Bitcoin spot market ETFs in lowering regulatory barriers.
- Wall Street's growing interest, particularly with the upcoming halving event, expected to reduce the daily issuance of new coins.
Conclusion
If Anthony Scaramucci's predictions come to pass, we could witness a dramatic rise in the value of Bitcoin and Ethereum. With potential institutional investments and political influences paving the way, the next few years could be groundbreaking for these crypto assets.
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Keywords: Bitcoin, Ethereum, Cryptocurrency, Anthony Scaramucci, Institutional Investors, Asset Class, Joe Biden, Bitcoin ETF, Crypto Adoption, Crypto Bullish Trend
