SkyBridge Capital Founder Believes BlackRock’s Bitcoin ETF Approval Could Multiply Bitcoin’s Value by 11
SkyBridge Capital founder, Anthony Scaramucci, predicts that if BlackRock receives approval to launch a spot Bitcoin ETF, the value of Bitcoin could increase by as much as 11 times. Scaramucci suggests that this approval could lead to a massive $100 billion influx of institutional investments into Bitcoin, transforming it into a $600 trillion asset. Speaking on the YouTube channel “Altcoin Daily,” Scaramucci emphasizes the potential impact of this approval on Bitcoin’s price. He extrapolates that with BlackRock’s ETF approval, Bitcoin could potentially reach a price as high as $330,000.
Scaramucci on Sam Bankman-Fried
In addition to discussing BlackRock’s potential influence, Scaramucci addresses his company’s association with former FTX CEO Sam Bankman-Fried, who is currently on trial for money laundering and fraud. Scaramucci confirms that he has already provided his communications with Bankman-Fried to the Department of Justice (DoJ), but the DoJ did not find any incriminating evidence against him. Scaramucci holds Bankman-Fried accountable for the alleged illegal activities at FTX and expects him to use his youth and inexperience as a defense.
Scaramucci’s Opinion on Gary Gensler
Scaramucci describes Securities and Exchange Commission (SEC) Chair Gary Gensler as “arrogant” and “self-righteous,” expressing concern about his impact on the crypto industry.
Hot Take: BlackRock’s ETF Approval Could Propel Bitcoin’s Value
According to Anthony Scaramucci, founder of SkyBridge Capital, if BlackRock secures approval for its spot Bitcoin ETF, Bitcoin’s value could potentially increase by 11 times. This approval could attract a substantial $100 billion in institutional investments, transforming Bitcoin into a $600 trillion asset. Scaramucci believes this development has the potential to drive Bitcoin’s price up to $330,000. Additionally, Scaramucci discusses his association with Sam Bankman-Fried, former FTX CEO on trial for money laundering and fraud. He confirms cooperating with the Department of Justice and holds Bankman-Fried responsible for the alleged crimes. Lastly, Scaramucci expresses concerns about Gary Gensler, the Chair of the Securities and Exchange Commission, describing him as “arrogant” and a long-term challenge for the crypto industry.
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