According to CryptoPotato, Anthony Scaramucci, the founder and CEO of alternative asset management firm SkyBridge Capital, has predicted that Bitcoin (BTC) will reach its all-time high before the end of 2024. This prediction comes after the United States Securities and Exchange Commission (SEC) approved the launch of spot Bitcoin exchange-traded funds (ETFs). Scaramucci believes that BTC will likely break its all-time high by January 2025, as the SEC has allowed retail investors access to the leading digital asset.
The U.S. securities regulator recently greenlighted 11 spot Bitcoin ETFs for listing and trading on the Nasdaq, the New York Stock Exchange (NYSE), and the Chicago Board Options Exchange (CBOE). This long-awaited approval will give retail investors access to BTC, providing an alternative to the current financial system and accelerating crypto adoption. Scaramucci, along with the crypto community, sees the SEC's decision as a watershed moment for Bitcoin and a significant breakthrough for digital assets in general.
Bitcoin reached its current all-time high in November 2021 during the last bull market. However, the asset's price collapsed alongside the entire crypto market and several projects when the bear season took over in 2022. The cryptocurrency's price increased by 150% in 2023, riding on excitement about the spot Bitcoin ETF approval and other upcoming events like the fourth Bitcoin halving, which historically kickstarts bull seasons. Scaramucci stated that 2022 was 'very brutal' for SkyBridge, but 2023 became the best year after the company 'incrementally' bought BTC, Ether (ETH), and Solana (SOL). The former White House Communications Director also said the SEC is endorsing BTC in a weird way since the agency has allowed investors to add the crypto asset to their brokerage accounts. Scaramucci confirmed that he would purchase the ETFs as a ceremonial buyer.
