Earlier today, former White House Director of Communications Anthony Scaramucci, who is the founder and managing partner of global alternative investment firm SkyBridge Capital, shared his medium and long-term outlook for Bitcoin.
In a recent appearance on the “OPTO – Invest in Innovation” podcast, initially covered by The Block, Scaramucci shared his bullish outlook on Bitcoin. Scaramucci believes that Bitcoin has the potential to become a $15 trillion asset and could even surpass gold in value as a store of wealth. However, he does not see it becoming the universal standard for money.
Scaramucci expressed confidence that Bitcoin could reach an asset value of $15 trillion, stating that it holds more value than gold in many respects. He also speculated that given Bitcoin’s limited supply of 21 million coins, its market cap could translate to a price of over $700,000 per coin. This is a significant increase from its current price, which hovers around $28,000.
The SkyBridge Capital founder revealed that his firm holds a substantial amount of Bitcoin, even though he doesn’t envision it becoming the global monetary standard. Scaramucci also noted the geopolitical implications of Bitcoin, suggesting that countries opposed to the U.S. might opt for trading in Bitcoin or gold-backed cryptocurrencies, especially if the U.S. continues to use the dollar to exert its influence globally.
Scaramucci predicts Bitcoin price surge to $31 million upon ETF approval did not hold back in criticizing the existing financial system, describing it as “broken.” He called for robust leadership to initiate a financial overhaul, acknowledging that such a transformation would likely take 15 to 20 years to fully realize.
Well, earlier today, crypto educator and investor Jason Williams asked Scaramucci if he had predicted that the Bitcoin price would surge to $31 million upon the approval of a spot Bitcoin ETF in the U.S.
Scaramucci clarified that there was a typographical error in the previous statement, and said that he had never claimed BTC would reach a value of $31 million per coin. Instead, he believed that the asset could rise to between $150,000 and $250,000 in the upcoming cycle, potentially reaching $750,000 by the end of the decade.