SkyBridge Capital’s Anthony Scaramucci has reiterated a bullish Bitcoin (BTC) stance amid market conditions. The former White House Communications Director previously hinted at a price growth of the market leader to $100,000 by year-end. This year, Bitcoin and other cryptocurrencies significantly grew in Q1 before wider corrections.
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.
Should you think of $BTC as a store of value? Skybridge Capital’s Anthony Scaramucci talks about the digital asset and why he thinks it can still get to $100k. pic.twitter.com/QzX4XxcETj
— 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 you had said to me last year when Bitcoin was in the 30s that we’ll be in the 60s post halving, I think most people in the industry will be very happy… I got this wrong but I think it’s relative to timing as opposed to actual results. I do think Bitcoin gets to $100,000 it’s just taking longer with more regulatory hurdles and uncertainty, some fraud exposed as you both know, and over leverage in the system.”
Bitcoin ETFs remain instrumental to the upward growth of the asset Anthony Scaramucci pointing to increased traditional investors. The SEC’s approval gave the market added legitimacy after previous uncertainties. As a result, top institutions and firms have increased their asset exposure.
Bitcoin Is A Store of Value
Anthony Scaramucci also noted that BTC remains a store of value amid the surge in the price of gold. The price of the precious metal is up 30% in two years with gold enthusiasts criticizing Bitcoin’s growth after its previous all-time high in 2021. According to the SkyBridge Capital founder, Bitcoin is a future store of value as the asset’s adoption increases with more wallets and global use cases.
The growing price in the past months supports this narrative. At press time, BTC price stands at $60,796, a 1.55% increase in the last 24 hours.
David Pokima
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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