Anthony Scaramucci, founder and CEO of SkyBridge Capital, is predicting a significant price jump for Bitcoin (BTC). He believes the cryptocurrency could reach $150,000 to $180,000 by the end of the year – a potential 65% increase from current levels.
Institutional Investment Driving Bitcoin’s Rise
Scaramucci attributes this potential surge to increasing institutional investment. He notes a growing trend of institutional investors favoring Bitcoin, calling it the “go-to asset” in the crypto space. He estimates that around 80% of institutional money flowing into crypto will end up in Bitcoin.
Global Uncertainty: A Headwind for Bitcoin
Despite his bullish prediction, Scaramucci acknowledges several factors that could hinder Bitcoin’s growth. He cites ongoing geopolitical tensions (the conflicts in Ukraine and the Middle East), recession fears, and the lingering economic effects of the COVID-19 pandemic as potential obstacles. However, he emphasizes that strong net buying, particularly through ETFs, is outweighing these negative influences.
The Bottom Line
While acknowledging the inherent risks in cryptocurrency investments, Scaramucci’s prediction paints a positive outlook for Bitcoin in the near future. He stresses the importance of conducting thorough research before investing in any cryptocurrency.