The founder of investment firm SkyBridge Capital predicts that Bitcoin (BTC) will more than double in price in the coming year.
In a new interview on the Bankless podcast, hedge fund veteran Anthony Scaramucci says say that demand for Bitcoin will likely continue to increase, creating a supply crisis that will send the flagship crypto asset soaring.
“There will be a supply shock and so there is no reason why this cannot rise to $200,000 in the next 12 months. You don’t have enough Bitcoin in the market. So what happens? I have to own it. My board just told me I should get a 1% position. Okay, what should I do? I need to buy a 1% position. You start buying it. It’s liquid. It is the deepest crypto market. But it’s not super fluid. $10 billion will move that market. That will just happen.”
Scaramucci also predicts that the US government under the leadership of newly elected President Donald Trump will create a Bitcoin reserve.
“Let me tell you why I think this will happen. Trump wants this to happen, and he has the Senate Banking Committee. [Republican US Senator] Tim Scott wants it to happen. He will become chairman of the Senate Banking Committee. [Treasury Secretary nominee Scott] Bessent wants it to happen…
If you tell me there are no Democrats who are going to vote for that, I say, OK, we’re not going to get it. But I don’t see that…
I think there are a lot of Democrats who will look at it and say, ‘If Bitcoin is digital gold and we have $600 billion of gold in reserve at our bank and the Federal Reserve Bank, you’re telling me we don’t have $75 billion. can stop. Up to $100 Billion of Bitcoin in Reserve? And besides, you could even liquidate some of that gold to do that. You’re saying that’s not possible?”
Bitcoin is trading at $94,737 at the time of writing, up 3% in the past 24 hours.
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