Benzinga - Anthony Scaramucci, the founder of Skybridge Capital and former White House communication director predicted Bitcoin (CRYPTO: BTC) could soar to $170,000 after the Bitcoin halving.
Scaramucci's Price Prediction: In a conversation with Scott Melker, Scaramucci discussed his views on Bitcoin's future, the importance of doing one's homework in understanding digital assets and his experiences in the financial industry.
He believes Bitcoin's value will significantly increase after the next halving event, projecting a potential rise to $170,000.
This forecast is based on historical patterns observed in Bitcoin's price following previous halvings.
He emphasized the need for individuals, especially those from older generations, to thoroughly research and understand Bitcoin and blockchain technology.
According to Scaramucci, those who have done their homework inevitably become supporters of the digital asset.
The Skybridge Capital founder also touched upon the institutional adoption of Bitcoin, noting the launch of several Bitcoin ETFs and the increasing interest from major financial players.
"You have institutional demand finally for Bitcoin because it's now an asset that's wrapped in something that the institutions can now be comfortable buying," he said.
He believes this institutional interest, coupled with Bitcoin's limited supply, will drive its price upward.
Also Read: Coinbase: Key Player In New Era Of Bitcoin ETFs, Encourages Investor Caution
2023 Was "The Best Year" Of Scaramucci's Career: "Every decision that I made in 2022 went bad." Despite facing a significant downturn in his investments and legal troubles, he underscored the importance of integrity and perseverance: "You hang in there, and you own your mistakes. If you have integrity, there's always opportunity."
Surprisingly, the year 2023 marked a significant turnaround, as he revealed, "Our coin fund was up 160% last year... It was the best year of my career."
"Larry Did The Reversal," Scaramucci Said: During the discussion, Scaramucci shared anecdotes from his interactions with prominent figures such as CNBC anchor Jim Cramer and BlackRock Inc. CEO (NYSE: BLK) Larry Fink, offering insights into their perspectives on Bitcoin and digital assets.
He praised Fink for his ability to evolve his understanding of Bitcoin and his foresight in recognizing its potential as a store of value and a flight to quality asset.
"Larry did the reversal. Larry was on the road to Damascus and converted as a result of being steeped in understanding exactly what it was and why it will be an international store of value."
On potential market upheavals, Scaramucci acknowledged the possibility of more "black swans," but remained confident in Bitcoin's resilience.
"I don't think we're done," he said, referring to market adjustments, "but I believe that by the halving, we will be done with the exegesis of the last cycle."
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Photo: Anthony Scaramucci via Shutterestock
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