Anthony Scaramucci Predicts Bitcoin Could Reach $15 Trillion Market Cap
Anthony Scaramucci, founder and managing partner at SkyBridge Capital, remains optimistic about bitcoin’s future. He believes that the cryptocurrency could see a staggering increase of 2,662% from its current market capitalization of approximately $543 billion.
In an interview on the OPTO — Invest in Innovation podcast, Scaramucci stated that he thinks bitcoin could become a $15 trillion asset. He considers bitcoin to be more valuable than gold and sees the potential for it to become a store of value. Due to these reasons, his firm holds a significant amount of bitcoin.
However, Scaramucci does not believe that bitcoin will become the universal standard of money during his lifetime. He does acknowledge the possibility of nations hostile to the US using bitcoin or a gold-backed alternative to trade outside of the US dollar’s influence.
Scaramucci criticizes the current financial system as being “broken” but believes it can be fixed with proper leadership. However, he emphasizes that this would require long-term planning spanning 15 to 20 years.
Based on Scaramucci’s estimation of bitcoin’s market cap, its price could exceed $700,000 per coin given its limited supply of 21 million coins. Currently, bitcoin is priced around $27,860.
‘SBF Broke My Heart’: Scaramucci on Sam Bankman-Fried
Scaramucci expressed disappointment in Sam Bankman-Fried, the disgraced founder of FTX exchange which recently filed for bankruptcy and is facing a criminal trial. FTX Ventures had acquired a 30% stake in SkyBridge before its collapse.
Scaramucci predicts that Bankman-Fried will be found guilty and convicted, citing the guilty pleas of four former FTX executives. He accuses Bankman-Fried of willfully using other people’s money and committing fraud.
The trial of Sam Bankman-Fried is ongoing, with a verdict expected next month. Former FTX executives Caroline Ellison, Gary Wang, Nishad Singh, and Ryan Salame have all pleaded guilty.
Hot Take: Bitcoin’s Potential to Soar to New Heights
Anthony Scaramucci’s bullish outlook on bitcoin showcases his belief in the cryptocurrency’s potential for substantial growth. With his prediction of a $15 trillion market cap, he envisions bitcoin as a highly valuable asset that could surpass the value of gold. While Scaramucci acknowledges the flaws in the current financial system, he remains hopeful that it can be rectified with effective leadership. However, he does not foresee bitcoin becoming the universal standard of money in his lifetime. Scaramucci’s disappointment in Sam Bankman-Fried reflects the challenges faced by the crypto industry and highlights the importance of trust and integrity within the space.
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