Anthony Scaramucci, founder of major investment firm Skybridge Capital, predicted a Bitcoin price target of $170,000 in the current cycle during an appearance on CNBC’s Closing Bell<\/a>.<\/p>\n

NEW: Skybridge\u2019s Anthony Scaramucci says #Bitcoin<\/a> halving is still not priced in.<\/p>\n

Predicts \u201c$170000 for this cycle.\u201d \ud83d\ude80 pic.twitter.com\/0uE4EAmwgS<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) April 8, 2024<\/a><\/p>\n

Scaramucci has been a vocal Bitcoin proponent, with Skybridge investing heavily in Bitcoin. He cited increasing mainstream and institutional adoption as key drivers of Bitcoin’s growth.<\/p>\n

The prominent financier and former White House Communications Director highlighted the major impact of SEC-approved Bitcoin spot ETF<\/a>s in unlocking billions in new investments this year. He compared the over $10 billion in Bitcoin ETF inflows in Q1 favourably to the slower adoption of early gold ETFs.<\/p>\n

Scaramucci also discussed the upcoming\u00a0Bitcoin halving event<\/a>, which will reduce daily supply and potentially dramatically impact prices. He believes the market has not priced in the halving, predicting a supply squeeze.<\/p>\n

Although volatile, Scaramucci stressed Bitcoin’s inflation-hedging ability over a 4-year investment horizon, touting its digital gold narrative. He sees potential for Bitcoin’s market cap to reach 50% of gold’s valuation.<\/p>\n

Scaramucci has been an avid Bitcoin proponent, with Skybridge taking an early institutional interest in Bitcoin. The firm led a high-profile push to offer Bitcoin exposure in 401(k) retirement plans, underscoring its commitment.<\/p>\n

Despite some mainstream scepticism over the years, Scaramucci has maintained a bullish long-term outlook on Bitcoin as an emerging digital store of value. He cites generational wealth transfers and Bitcoin-friendly demographics as setting the stage for massive growth.<\/p>\n

Scaramucci also touched on the FTX collapse, its impact, regulatory issues, and his optimism regarding the Bitcoin industry’s future maturation.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Anthony Scaramucci, founder of major investment firm Skybridge Capital, predicted a Bitcoin price target of $170,000 in the current cycle during an appearance on CNBC’s Closing Bell. NEW: Skybridge\u2019s Anthony Scaramucci says #Bitcoin halving is still not priced in. Predicts \u201c$170000 for this cycle.\u201d \ud83d\ude80 pic.twitter.com\/0uE4EAmwgS \u2014 Bitcoin Magazine (@BitcoinMagazine) April 8, 2024 Scaramucci has […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24565","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=24565"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24565\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=24565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=24565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=24565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}