In a recent interview, former White House Director of Communications Anthony Scaramucci, who is the founder and CEO of global alternative investment firm SkyBridge Capital (“SkyBridge”), shared his latest thoughts on Bitcoin.
SkyBridge, which was founded in 2005 by Scaramucci, is “a global alternative investments firm specializing in multi-strategy commingled fund of hedge funds products, custom separate account portfolios and hedge fund advisory solutions to address the needs of a wide range of market participants ranging from individual accredited investors to large institutions.”
Here is what Scaramucci said about Bitcoin in that interview:
“I like the scarcity feature: no one knows who invented it. That was a smart by the inventors of it ,but they’ve only got 21 million coins out there, and so that scarcity provides people with this anti-dilutive quality, and it’s also, as you know, about human minds — when something is scarce, people want it...
“It could glide to $280,000 a coin, have a $5 trillion dollar market value, and still only be half of all of the gold that’s been mined in our global society, and I and I think it’s got a long way to go here…
“You have this historic opportunity now to get in before the institutions do. Institutions are coming. Could this be a $100,000 per coin at the end of 12-31 2021? I believe it could be….“
On the same day that McCormack’s interview with Scaramucci came out, SkyBridge announced the launch of the the SkyBridge Bitcoin Fund, which “provides mass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin.” It is only available to accredited investors, and requires a minimum investment of $50,000.
“The bottom line is you have the limited and fixed supply of Bitcoin and you have every month exponentially more demand… As long as I see that, I see those prices rising. So, we’re going to stick with the $100,000 price target.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.