Anthony Scaramucci Discusses Bitcoin Price Targets
Anthony Scaramucci, founder and managing partner of SkyBridge Capital, announced his price targets for Bitcoin (BTC) during a broadcast on CNBC. Speaking at the Wyoming Blockchain Symposium, Scaramucci said they maintained their year-end price target for Bitcoin in the range of $180,000 to $200,000.
Scaramucci noted that the cryptocurrency market has experienced both sharp declines and significant increases over the past five years, noting that institutional investors are now heavily involved. Pointing to BlackRock’s Bitcoin ETF IBIT, Scaramucci said, “We’re seeing significant consolidation and ownership shifts in the market today. Demand is significantly outpacing supply.”
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Describing the institutional interest in the cryptocurrency market as “transformative,” Scaramucci reminded that Bitcoin production is limited to only 450 units per day, stating that the supply-demand balance supports the price.
Scaramucci also addressed stablecoins, saying he welcomed the state of Wyoming’s announcement of its own stablecoin project. He stated that stablecoins would increase demand for the US dollar and provide an alternative to intermediaries like credit cards in payment systems. However, Scaramucci expressed his disapproval of central bank digital currencies (CBDCs), arguing that they could be “too intrusive and compromise privacy.”
*This is not investment advice.