Skybridge Capital founder and managing partner, Anthony Scaramucci, anticipates a significant surge in Bitcoin (BTC) prices, projecting a minimum of $170,000 after the upcoming halving in April. During an appearance on the Scott Melker podcast, Scaramucci drew attention to historical Bitcoin halving cycles, emphasizing that the price tends to increase fourfold 18 months after the halving event.
Considering a conservative estimate of $35,000 at the time of halving, Scaramucci outlined potential scenarios, stating, “Let’s say we’re at $50,000 in April, then it’s a $200,000 handle. Let’s say we’re at $60,000, it will be $240,000.” He sees the halving event as a pivotal catalyst for Bitcoin’s upward trajectory.
In terms of a long-term outlook, Scaramucci envisions Bitcoin reaching half of the market capitalization of gold, a scenario that could drive the price of one Bitcoin to approximately $400,000. This bullish prediction reflects his confidence in Bitcoin’s continued growth and adoption.
Notably, Scaramucci recently revealed that he was the first external investor in BlackRock’s spot Bitcoin exchange-traded fund (ETF), a move that gained approval on January 11. Reflecting on BlackRock’s evolving stance on Bitcoin, Scaramucci praised CEO Larry Fink for his shift from skepticism to being a “big believer.” Fink, who was initially critical of Bitcoin, acknowledged his change of perspective, acknowledging the importance of BlackRock’s involvement in the cryptocurrency space.
Scaramucci commended Fink’s willingness to reevaluate his stance on Bitcoin, stating, “It takes a very smart leader to pridefully say that bitcoin sucks and then 24 months later say ‘you know what I got this wrong, BlackRock needs to be a part of this.’” This shift in perception reflects the growing recognition of Bitcoin’s significance in the financial landscape, with institutional players increasingly acknowledging its potential.
