In a recent interview, former White House Director of Communications Anthony Scaramucci, the founder and CEO of global alternative investment firm SkyBridge Capital, predicted a wave of institutional interest in crypto “over the next 12 to 18 months.”
During an interview with Anthony Pompliano on episode #71 (released on October 20) of “The Best Business Show”, the SkyBridge CEO Anthony Scaramucci claimed that more institutional investment would come to the crypto markets following a reduction in regulatory hurdles.
As reported by The Daily Hodl, Scaramucci said:
I’ll make a bold prediction, Anthony. I think there’s going to be institutional interests over the next 12 to 18 months because you now have gotten the regulatory box checked and that checking of that box is going to lead to institutions saying, ‘Hey I got to get in this thing. I’ve got to own a piece of this. I’ve got to understand it,’ and what would George Soros say? He would say ‘Invest and investigate later.’
Scaramucci predicted Bitcoin would likely break $100,000 after the U.S. Securities and Exchange Commission (SEC) starts approving Bitcoin futures exchange-traded funds (ETFs).
It’s likely to get to $150,000 over the next 12 months. I’m going to stick with my earlier price target that I shared with you on our SALT talk when you did my podcast. I think it’s a hundred thousand by year-end. I just think it’s that because there’s now a gateway opened… A gateway opened yesterday where an institution can now say ‘I can buy this.’
He compared previous regulatory concerns about Bitcoin to that of the COVID vaccine, telling Pompliano that the SEC’s approval of a Bitcoin futures ETF would make early institutional investors feel safer about dipping their toes in crypto waters just like some people in the U.S. refused to get vaccinated for COVID-19 until the U.S. Food and Drug Administration (FDA) started approving COVID-19 vaccines.
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