Scaramucci predicts Bitcoin will hit $170k following halving

**SkyBridge Capital Founder Anthony Scaramucci Predicts Bitcoin to Reach $170,000 in 18-Month Cycle**

In a recent interview with CNBC, Anthony Scaramucci, the founder of SkyBridge Capital and former White House Communications Director, shared his bullish outlook on the Bitcoin market. Scaramucci believes that Bitcoin could reach at least $170,000 within the 18-month post-halving cycle.

**Bitcoin ETFs Outperform Gold ETFs**

Scaramucci highlighted the rapid growth of Bitcoin ETFs, which have seen over $10 billion in cumulative inflow in just three months. This achievement surpasses the one-year timeline it took for Gold ETFs to reach the same milestone.

**Bitcoin’s Performance Amidst USD Depreciation**

As the USD has lost nearly 22% of its value since January 2020, Scaramucci pointed out that Bitcoin has increased over 800% during the same period. Despite experiencing extreme volatility, long-term holders have seen significant profits from holding Bitcoin.

**Bitcoin as a Long-Term Asset**

Scaramucci views Bitcoin as a long-term asset rather than a short-term inflation hedge. He believes that Bitcoin, as a technical asset, could potentially reach half the valuation of the gold market and end this cycle at $170,000.

**Scaramucci on Sam Bankman-Fried’s Sentencing**

Scaramucci also discussed the recent sentencing of Sam Bankman-Fried, the founder of FTX. FTX acquired a 30% stake in SkyBridge back in September 2022 before going bankrupt in November. Scaramucci expressed sadness for Bankman-Fried’s situation but believed that the 25-year sentence was light given the circumstances.

**Looking Ahead**

Despite the challenges in the market, Scaramucci remains optimistic about Bitcoin’s future potential. He emphasized the cyclical nature of Bitcoin’s price movements and urged caution in predicting exact figures. However, he remains confident that Bitcoin could reach $170,000 in the current cycle.

As the cryptocurrency market continues to evolve, Scaramucci’s insights provide valuable perspective on the potential growth of Bitcoin and its impact on the broader financial landscape.


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