Bitcoin to Hit $100,000 by Year-End? Scaramucci Thinks So

Anthony Scaramucci, the founder of SkyBridge Capital, is bullish on Bitcoin. He believes the cryptocurrency could reach a whopping $100,000 by the end of the year.

Why Scaramucci is Bullish

Scaramucci sees the recent dip in Bitcoin’s price as a temporary setback. He points to a few factors that could drive Bitcoin back up:

  • The Mt. Gox settlement: The defunct crypto exchange Mt. Gox is finally settling with its creditors, which could free up some Bitcoin for trading.
  • German government selling coins: The German government is selling some of its Bitcoin holdings, which could also lead to more Bitcoin circulating in the market.
  • FTX account holders getting their money back: FTX is expected to release billions of dollars to investors who lost money when the exchange collapsed. Scaramucci believes a significant portion of this money will be reinvested in Bitcoin.

Scaramucci’s Long-Term Vision

Scaramucci is even more optimistic about Bitcoin’s long-term prospects. He predicts that the cryptocurrency will reach $170,000 after the next halving event, which is expected to occur in 2024.

Political Implications

Scaramucci also believes that the Democratic Party’s reluctance to embrace digital assets could cost them votes in the upcoming US presidential election. He argues that there are millions of potential voters who are passionate about cryptocurrency and could be swayed by a candidate who supports it.

Bitcoin’s Current Price

Bitcoin is currently trading at around $57,747, up nearly 3% in the last 24 hours.

Disclaimer: This information is for general knowledge and should not be considered financial advice. Always do your own research before making any investment decisions. /p>