May 29, 2024
Scaramucci's Bitcoin Projections: $170K Post-Halving
Bitcoin Halving

Scaramucci’s Bitcoin Projections: $170K Post-Halving

Anthony Scaramucci, the founder and managing partner of Skybridge Capital, envisions Bitcoin (BTC) surging to at least $170,000 post-halving in April, a period when the issuance of new bitcoins decreases. Reflecting on Bitcoin halving cycles during a conversation on the Scott Melker podcast, Scaramucci emphasized the consistent trend where, four times the day of halving, the price of Bitcoin reaches an uncanny correlation 18 months later.

While adopting a conservative estimate of $35,000 at the time of the halving, Scaramucci outlined potential scenarios, stating, “If we’re at $50,000 in April, it could reach a $200,000 mark. If it’s $60,000, we might be looking at $240,000.”

Looking further into the future, Scaramucci expressed optimism that Bitcoin could attain half the market capitalization of gold, translating to a per-coin value of around $400,000.

In a notable disclosure, Scaramucci revealed that he was the inaugural external investor in BlackRock’s spot bitcoin exchange-traded fund (ETF), predating its approval on January 11. Acknowledging BlackRock CEO Larry Fink’s initial skepticism about Bitcoin, Scaramucci praised Fink for his subsequent shift in perspective. He commended Fink for diligently reassessing his stance on Bitcoin, acknowledging that BlackRock needed to be involved in the cryptocurrency space.

Image by Gerd Altmann from Pixabay

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