Anthony Scaramucci, founder of SkyBridge Capital, believes Bitcoin has plenty of room to grow.
ETF Approval Boosts Demand
Scaramucci credits the approval of Bitcoin spot ETFs for attracting new investors and driving demand. These ETFs have cleared regulatory hurdles, allowing institutional money to flow into the cryptocurrency.
Wall Street’s Buying Spree
Scaramucci highlights Wall Street’s massive purchases of Bitcoin, amounting to thousands per day. This demand is outpacing the supply, which is set to be halved in April.
Halving to Reduce Supply
The Bitcoin halving, which occurs every four years, will reduce the number of new coins issued each day from 900 to 450. Scaramucci believes this will further increase demand and push prices higher.
Price Prediction
At the time of writing, Bitcoin is trading around $69,320. Scaramucci is optimistic about its future, stating, “I think Bitcoin has a lot more to go here.”
