Major Bitcoin Bull Scaramucci Shares His Predictions for When Bitcoin Price Will Recover

Anthony Scaramucci, one of the well-known Bitcoin bulls, also touched on the Bitcoin price in his statement

SkyBridge Capital founder and managing partner Anthony Scaramucci shared his thoughts on Bitcoin and the general cryptocurrency landscape during an interview on CNBC’s Squawk Box program.

Scaramucci expressed his optimism about Bitcoin’s future, especially in late 2024. He noted that the “supply glut” appears to be decreasing, which is a positive sign for Bitcoin’s price. Also touching on the ongoing comparison between Bitcoin and gold, Scaramucci acknowledged that while gold has increased by 30% in the last two years, Bitcoin has remained relatively stable. However, he argued that Bitcoin is still in its early stages as a technological innovation rather than just a store of value. He suggested that as adoption increases, Bitcoin could solidify its position as a store of value, with potentially over a billion wallets in use.

While some expected Bitcoin to reach higher prices by now, Scaramucci noted that regulatory challenges and market volatility have delayed its rise. However, he is confident that Bitcoin will eventually reach the $100,000 mark.

Scaramucci noted that about 65% of recent inflows have gone into spot Bitcoin ETFs, with the remaining 35% going directly to Bitcoin. The trend is being driven by the increasing ease of buying Bitcoin through ETFs and storing it in brokerage accounts. He also pointed to Wall Street’s potential as a “sales machine” that has yet to fully capitalize on the Bitcoin market.

He suggested that bipartisan support for crypto regulation could grow as we approach 2025 and 2026.