Anthony Scaramucci, a big name in crypto, is super excited about Bitcoin’s future. He thinks it’s going to skyrocket to $170,000 by the end of this cycle.
Halving Event Fueling Optimism
Scaramucci’s bullishness is based on past trends after halving events, where the number of new Bitcoins entering the market gets cut in half. Historically, these events have led to big price surges.
Bitcoin Adoption on the Rise
Scaramucci also sees the growing popularity of Bitcoin exchange-traded funds (ETFs) as a sign of increasing institutional adoption. He points out that Bitcoin ETFs have already surpassed $10 billion in inflow in just three months, something that took Gold ETFs a whole year to achieve.
Bitcoin as a Long-Term Investment
Scaramucci believes Bitcoin has the potential to be a long-term store of value, not just a hedge against inflation. Its limited supply of 21 million coins and growing adoption suggest it could become increasingly valuable over time.
Volatility a Factor
Scaramucci acknowledges that Bitcoin’s volatility is a concern, but he believes experienced investors with a long-term perspective can navigate these fluctuations successfully.
Scaramucci on Sam Bankman-Fried
Scaramucci also discussed the recent sentencing of Sam Bankman-Fried, the former CEO of the collapsed FTX exchange. While he expressed sympathy for Bankman-Fried’s mental state, he also acknowledged the damage caused by FTX’s collapse.
