Anthony Scaramucci, the founder of SkyBridge Capital, predicts that Bitcoin (BTC) will reach a value between $500,000 and $1 million by 2030.
Scaramucci, whose firm invests in digital assets, believes that BTC outperforms every other asset class if held for a four-year rolling interval. In an interview with Yahoo Finance, he stated that he thinks the bear crypto market is finished, but he also emphasized that it is only a guess.
In January, Scaramucci stated that BTC would be treated from $50,000 to $100,000 in 2-3 years. However, he predicted that BTC would reach $100,000 in 2021. Despite this, he believes that the new era for Bitcoin and other cryptocurrencies is starting, so people should not give up investing in crypto.
Regarding the recent fallout of Binance, Scaramucci thinks there will be a short-term hit to the market. However, he explained the recovery period of the crypto market after the collapse of Mt. Gox which was a Bitcoin exchange contributed to 60% of Bitcoin trading.
In addition to the example of Mt. Gox, Scaramucci talked about the collapse of FTX that was a critical issue at that time, but now the market is recovered. It is worth noting that SkyBridge encountered a 96% loss in its $10 million FTX token (FTT) bet.
The CFTC is suing Binance and some of its senior management, including CEO Changpeng Zhao, for insider trading and breaking trading and derivative rules. Despite this, Scaramucci believes that more people will adopt Bitcoin and other cryptocurrencies.
Anthony Scaramucci is not the only person who says that the bear market is finished, and the values of cryptocurrencies will increase. For example, the former CTO of Coinbase, Balaji Srinivasan, also stated that BTC’s value will reach $1 million.
In addition to these two names, there are other critical organizations/people who show their belief in Bitcoin and other cryptocurrencies. For instance, Jack Dorsey is studying to create a user-friendly kit for Bitcoin mining. Furthermore, some universities, like Texas A&M University, are offering Bitcoin, Metaverse, and crypto courses.
From the above examples, it can be understood that lots of organizations and people rely on the value and importance of cryptocurrencies, especially Bitcoin. However, we must get used to short-term rises and decreases in the crypto market because it has a regular fluctuating structure.