• Anthony Scaramucci of Skybridge Capital is a big bitcoin fan and believes it will end the year in the $40,000 to $50,000 price range.
• Bitcoin recently hit $30K for the first time in about 11 months and is on a healing path.
• Fraud and over-leverage have been brought up as potential issues with cryptocurrency but Scaramucci is still confident in its strength.
Anthony Scaramucci’s Bullish BTC Prediction
Anthony Scaramucci of Skybridge Capital has never been more bullish on bitcoin than he is now, predicting that it will end the year somewhere between $40,000 and $50,000. This confidence comes after BTC recently hitting an 11 month high of $30K and entering into what appears to be a healing period following a difficult 2020.
The Halving Process
Scaramucci also noted that bitcoin goes through boom-bust cycles which coincide with its halving process – something which is set to happen again next year in 2024. He credited mainstream media attention for much of the rising and falling prices as well as increased access to wallets which has unfortunately also led to fraud schemes emerging in recent years.
Gary Gensler & The SEC
These fraud schemes are one factor attributed to Gary Gensler’s current anti-crypto stance at the Securities and Exchange Commission (SEC). Other crypto companies such as FTX, Celsius, and Block Fi have collapsed amidst this attitude from the SEC.
Charlie Munger & Jamie Dimon
Despite all this opposition from some key figures like Charlie Munger – Warren Buffett’s right hand man – and JPMorgan CEO Jamie Dimon, Scaramucci still calls bitcoin an “anti-fragile asset class” that will remain strong despite any attempts by these individuals to bring it down.
Conclusion
In conclusion, Anthony Scaramucci firmly believes that bitcoin will not only make it through 2021 unscathed but finish off the year around $40k-$50k – an impressive increase given where it started 2021 at just under $30k per coin!