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A top executive at a New York-based global investment firm has made the bold claim Bitcoin breaking the six-figure price will happen very soon.
SkyBridge Capital founder Anthony Scaramucci said BTC will trade at $176,000 in the next two years, joining other crypto investors who believed the oldest cryptocurrency is ripe for a six-figure price per coin.
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Bitcoin goes threefold
Scaramucci praised the alpha crypto asset for sustaining a price increase in just a short period of time, adding that the digital asset will continue to rise over the next two years.
Scaramucci’s statement came at the right time as BTC regained its momentum today, reaching the $70,000 level again after the crypto scared many investors when the digital asset fell further to $68,000 yesterday.
According to Scaramucci, he has one ambitious forecast about Bitcoin and says the cryptocurrency will trade at $176,000 by mid-2026. In the previous days, several notable crypto personalities shared the same views with Scaramucci on the likelihood of BTC reaching the six-figure mark. One even predicted a price of $220,000.
SkyBridge’s Scaramucci Says US Will Solve Debt Crisis and Bitcoin Will Triple by 2026 https://t.co/aKYDI6vW2N pic.twitter.com/1BQCdomKHy
— Reuters (@Reuters) October 30, 2024
The founder of SkyBridge explained that the price of the cryptocurrency could experience a threefold increase in price in 18 to 20 months, saying that the rally is very plausible because there is a growing demand for the coin, but the supply is fixed , which are the right ingredients for an exponential price increase.
A Kamala Harris supporter
Scaramucci is one of the few well-known crypto investors who have expressed support for the presidential candidacy of current US Vice President Kamala Harris.
Scaramucci announced in previous interviews that Harris would be Endorse Bitcoin once she was elected to the White House.
SkyBridge’s managing partner has worked closely with the vice president’s camp to develop policies that ensure cryptocurrency can thrive under her administration.
He added that there was development in Harris’ crypto agenda, which he plans to reveal soon.
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BTC-Gold connection
In a separate interview, Scaramucci supported the relationship between gold and Bitcoin, saying that BTC is comparable to gold as an asset.
SkyBridge’s founder described the firstborn virtual currency as the digital gold of the cryptocurrency world. He noted that other leading financial experts, including BlackRock CEO Larry Fink, also believe in the Bitcoin-gold comparison, predicting that BTC would reach half the market cap of gold.
He suggested that it would take Bitcoin around 10 years to reach such a milestone, which would greatly benefit investors as they would get a tenfold return on their BTC investments.
As of this writing, gold is trading at $2,754 per ounce, a new all-time high, and has a market capitalization of $18.494 trillion.
Featured image of DALL-E, chart from TradingView
