Anthony Scaramucci Predicts Bitcoin Will Surge to 700000
Anthony Scaramucci, the mastermind behind SkyBridge Capital, remains optimistic about the future of Bitcoin, suggesting that the cryptocurrency is on track to reach a staggering six-figure value soon.
Speaking with David Lin on June 7, Scaramucci confidently projected that Bitcoin could rival the value of gold, soaring to nearly $700,000. He attributes this bold prediction to Bitcoin’s unique technological advancements and its growing popularity as a store of value similar to gold.
Currently, Bitcoin’s adoption rate in the United States stands at around 5%. However, Scaramucci believes that if Bitcoin continues to expand and gain traction at the same pace it has in the past decade, there is no limit to how much its value could skyrocket.
He elaborated that Bitcoin’s current market capitalization of nearly $1.5 trillion could potentially increase by tenfold over the next 15 years. This means that with its current value of approximately $69,500, Bitcoin could potentially reach a market cap of $15 trillion within the next 15 years.
By utilizing a formula that factors in the new price of Bitcoin based on the latest market cap divided by the current market cap, then multiplied by the current price of Bitcoin, Scaramucci estimates that the asset could reach a price of around $695,000 if the market cap grows by 10x.
Scaramucci confidently stated, “There’s no reason why this can’t be a $300,000, $400,000, $500,000 asset. If gold is valued at $16 trillion and Bitcoin at $1.5 trillion, could Bitcoin increase tenfold in the next 15 years? I believe it can, given its technical properties and the current trajectory it is on.”
The driving factors behind Scaramucci’s optimistic forecast are rooted in Bitcoin’s intrinsic qualities and the ongoing trends in its adoption within the market. He emphasized that Bitcoin’s potential as a digital store of value is key, highlighting the importance of scarcity, ease of use, trustworthiness, and stable value in the digital age.
Comparing Bitcoin to gold, Scaramucci underlined how Bitcoin meets these criteria through its decentralized and permissionless network. The cryptocurrency’s limited supply ensures scarcity, while its decentralized structure guarantees secure and reliable value transfer.
Scaramucci concluded that Bitcoin’s growth is fueled by its ability to replicate the desirable aspects of traditional assets in a digital format, paving the way for increased acceptance and long-term growth within the global financial system.
In the short term, Scaramucci predicts that Bitcoin could be valued at $170,000 by 2025.
Disclaimer: The content presented here should not be construed as investment advice. Investing involves risk, and individuals should exercise caution when considering investment opportunities.