Ethereum
Bitcoin Could Skyrocket Nearly 300%, Says SkyBridge Capital CEO Anthony Scaramucci – Here’s the Timeline
SkyBridge Capital Founder Anthony Scaramucci Makes Massive Prediction for Bitcoin (BTC) and Ethereum (ETH) this cycle.
In a new interview on the Unchained Crypto YouTube channel, Scaramucci said he believes Bitcoin could rise by almost 300% and Ethereum by almost 240% from their current values.
“I can only give you my guess [for the market top] and so I think we’re getting to $10,000 to $12,000 on Ethereum. And I think we’re getting somewhere [between] $170,000 to $250,000 on Bitcoin.
He also predicts that US President Joe Biden will win re-election in November against former President Donald Trump and that crypto assets will then reach new all-time highs (ATH).
“I think we will see all-time highs for Bitcoin and other assets in this category during a second Biden administration.”
According to Scaramucci, one of the main bullish catalysts for Bitcoin during this cycle could be greater adoption of the leading digital asset by institutional investors.
“The first thing for me is that someone is going to declare Bitcoin as an asset class. He will be a consultant. These large pension funds, in order to preserve their jobs, go to external consultants and ask them for advice on asset allocation, with whom to place the money, where to place the money, private equity, hedge funds, etc., stocks and bonds. .
And someone is going to declare Bitcoin an asset class and then come up with a suggestion that Bitcoin should represent 1%, 2%, 3% of a tactical institutional portfolio of allocated assets. And when that happens, it will open up huge demand for Bitcoin.
The state of Wisconsin, as you know, announced last month that it owned approximately $160 million worth of Bitcoin at the price it purchased it for…
The state of Wisconsin says, “Okay, this will be part of a portfolio of assets allocated to institutions. And so if I’m not long Bitcoin, I’m short Bitcoin and if I’m short Bitcoin and it’s a high-performing asset, my total portfolio may underperform my peer group.
And so I think that’s happening, and it will create an acceleration of adoption and an acceleration of price increases.
Bitcoin is trading at $64,163 at the time of writing, down slightly over the past 24 hours. Meanwhile, Ethereum is trading at $3,531 at the time of writing, up slightly over the past 24 hours.
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