Summary
TLDR: Anthony Scaramucci predicts Bitcoin price target of $170,000 in current cycle, citing increasing mainstream and institutional adoption, impact of SEC-approved Bitcoin spot ETFs, upcoming Bitcoin halving event, and Bitcoin’s inflation-hedging ability. Skybridge Capital heavily invested in Bitcoin, sees potential for Bitcoin market cap to reach 50% of gold’s valuation. Scaramucci remains bullish on Bitcoin as a digital store of value despite mainstream skepticism.
Key Points
1. Scaramucci predicts a Bitcoin price target of $170,000 in the current cycle, citing mainstream and institutional adoption as key drivers of Bitcoin’s growth.
2. He highlights the impact of SEC-approved Bitcoin spot ETFs in unlocking billions in new investments, comparing it favorably to the early adoption of gold ETFs.
3. Scaramucci believes the upcoming Bitcoin halving event will reduce daily supply and potentially impact prices, predicting a supply squeeze and emphasizing Bitcoin’s inflation-hedging ability over a 4-year investment horizon.