Bitcoin’s Market Cap Could Be Half of Gold, Says Anthony Scaramucci
SkyBridge Capital founder, Anthony Scaramucci, predicts that Bitcoin’s market capitalization could reach half of gold’s market cap in the coming years. Currently, gold’s market cap is around $14.5 trillion, so if Bitcoin follows suit, it could be valued at over $7 trillion. This would make the price of a single BTC around $400,000.
Bitcoin vs. Gold: Scaramucci’s Long-Term Predictions
In March 2021, Scaramucci stated that he considered Bitcoin better than gold in many aspects. While they are not directly comparable, they are sometimes compared as investment types. Bitcoin is a risk-on asset, while gold is seen as a risk-off asset. Despite Bitcoin’s volatility, Scaramucci believes it is a long-term value proposition that will continue to grow over time.
Scaramucci’s Hypothesis for Bitcoin Price
Scaramucci predicts that after the upcoming halving in April, the price of Bitcoin could reach new highs. Based on historical price trends in previous cycles, he estimates that BTC could reach at least $170,000 within 18 months following the halving. He believes a prudent estimate for the price at the time of the halving would be $50,000, implying a price of $200,000 by the end of 2025.
Other Forecasts and Analyst Views
Not all analysts agree with Scaramucci’s predictions. Some expect a retracement before the halving, with prices potentially dropping below $40,000 or even lower. However, there are also analysts who agree with Scaramucci and believe that BTC could return close to $50,000 before the halving. The halving event itself is considered a certain and predictable event, so it may already be priced into the markets.
Hot Take: Bitcoin’s Market Cap Potential
While there are varying opinions on Bitcoin’s future price, Scaramucci’s prediction of Bitcoin’s market cap reaching half of gold’s market cap highlights the potential growth of the cryptocurrency. With its increasing adoption and acceptance as a store of value, Bitcoin could continue to gain value in the long term. However, it’s important to consider the volatility and risks associated with investing in cryptocurrencies.
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