Anthony Scaramucci, SkyBridge Capital’s founder, predicts Bitcoin will hit $1 million by 2030. His firm invests in digital assets.
Scaramucci appeared in an interview with Yahoo Finance, saying, “I would guess right now that we’re through the bear market, and again that is a guess, we don’t know.” He believes Bitcoin (BTC) outperforms every other asset class if held for a four-year rolling interval.
It is worth noting that Michael Burry, the investor who shorted the housing market crash in 2008, recently tweeted, “I was wrong to say sell.” However, he has since deleted the tweet.
Bitcoin is a $1 Million Coin, Says Scaramucci
The founder of SkyBridge Capital firmly believes that more people will be adopting Bitcoin and cryptocurrencies. He predicts that Bitcoin might hit $500,000 to $1 million by 2030.
He says, “I don’t think it’s time to take chips off the table, if anything, I think this is the beginning of a new era for Bitcoin and other cryptocurrencies.”
In Jan., he predicted that Bitcoin would trade between $50,000 to $100,000 in two to three years. However, like many others, he predicted BTC to hit $100,000 in 2021.
Concerns for Fallout of Binance
When the interviewer asked about the impact of the fallout of Binance, Scaramucci said that there would be a short-term hit. He explained how the market recovered from the collapse of Mt. Gox, which facilitated 60% of Bitcoin trading.
He also took the example of the recent FTX collapse and how the market has recovered from the lows of $16,000. Not to mention, SkyBridge had to take a 96% loss in its $10 million FTX token (FTT) bet.
Binance and some of its senior management, like Chief Executive Officer (CEO) Changpeng Zhao, is sued by the Commodities and Future Trading Commission (CFTC). The CFTC alleges Binance for insider trading and breaking the trading and derivative rules.
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