- Scaramucci predicts Bitcoin could reach $170,000 after halving.
- Bitcoin’s market cap could hit half of gold’s, potentially reaching $400,000.
- BlackRock CEO Larry Fink revises stance, now investing in Bitcoin.
In a recent interview, Anthony Scaramucci, who established SkyBridge Capital, predicted that Bitcoin’s
Scaramucci’s claim is grounded in examining Bitcoin’s past pricing trends after halving events. He underscored a straightforward but persuasive evaluation.
“Go back and look at Bitcoin halving cycles the day that the Bitcoin halves, multiply it by four 18 months later, and it’s been uncanny that that’s been the price of Bitcoin.”
“Scaramucci mentioned that he estimated a $35,000 value at the time of the halving, which he considered a cautious figure. If the value is $50,000 in April, he predicts it could reach $200,000. Should the value hit $60,000, his forecast is to increase to $240,000.”
As of this writing, BTC has exceeded $43,000, bouncing back from variability following the introduction of spot Bitcoin ETFs. Its present market value is approximately $850 billion, and its circulating supply is about 19.61 million BTC.
Furthermore, Scaramucci highlighted the possibility of Bitcoin attaining a market capitalization that is half of gold’s, suggesting that the value of a single Bitcoin could climb to $400,000. He stated, “Currently, gold is valued around $14.5 trillion. Should Bitcoin’s market cap rise to $7 or $8 trillion, that would represent a tenfold increase from its current level.”
Scaramucci revealed that BlackRock CEO Larry Fink initially had a dismissive attitude towards Bitcoin, labeling it an “index of money laundering” and criticizing its value. Yet, after thoroughly researching Bitcoin’s underlying technology, Fink changed his stance, leading to BlackRock’s involvement in investments related to Bitcoin.
Scaramucci praised Fink for his intelligence as a leader, noting that it is commendable for someone to confidently declare that Bitcoin is terrible and then, two years later, admit to being mistaken and recognize that BlackRock must engage with it and hold a substantial interest.
Scaramucci believes that Fink’s revised opinion reflects a more profound comprehension of Bitcoin’s value proposition and its function as both a store of value and an asset investors turn to for its reliability and quality.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
