Anthony Scaramucci Predicts Bitcoin Could Reach $170,000 After Halving
Anthony Scaramucci, founder of Skybridge Capital, predicts that Bitcoin (BTC) could reach at least $170,000 after the halving in April, an event that reduces the amount of new bitcoins in circulation.
Scaramucci relies on previous halving cycles to establish his prediction, suggesting that the price of Bitcoin could quadruple 18 months after the event.
In the long term, Scaramucci believes that Bitcoin could reach half the market capitalization of gold, which would bring the price of one Bitcoin to around $400,000.
Impact of Halving and Changing Perception at BlackRock
According to Scaramucci, if Bitcoin is at $35,000 at the time of the halving, a figure he considers conservative, then he aims for a price of $170,000 per BTC. In the case of Bitcoin at $50,000 in April, we could expect to see its price rise to $200,000, or even $240,000 if it reaches $60,000 during the halving. These ambitious projections are based on the historical Bitcoin halving cycles and its subsequent market behavior.
As of writing, Bitcoin is currently trading around $43,000.
Recognition of Larry Fink’s Evolution on Bitcoin
“I will give Larry all the credit he deserves because he really did his homework. It takes a very intelligent leader to proudly say that Bitcoin is rubbish and then, 24 months later, say ‘you know what, I was wrong, BlackRock needs to be involved.”
Anthony Scaramucci
Scaramucci also praised the CEO of BlackRock, Larry Fink, for revising his opinion on Bitcoin after conducting extensive research on the asset. This evolution of Fink, who was initially skeptical, demonstrates a growing openness of traditional financial leaders towards Bitcoin. As the first external investor in BlackRock’s Bitcoin exchange-traded fund, Scaramucci appreciates this new approach.
