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Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, stated that “Bitcoin could easily become a $15 trillion asset.” Considering that the current market value of Bitcoin is approximately $543 billion, Scaramucci’s estimate has made a big impact.
He Expects Bitcoin’s Market Value to Increase by 2662 Percent
Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, continues to have high expectations for Bitcoin. He believes that the current market value of the largest cryptocurrency, which is around $543 billion, has the potential to increase by 2,662 percent.
Last week, Scaramucci stated on the OPTO – Invest in Innovation podcast, “I think Bitcoin could easily become a $15 trillion asset.” He also explained that Bitcoin could be more valuable than gold as a store of value and that’s why SkyBridge Capital invests in Bitcoin:
Bitcoin is a more valuable asset than gold in some aspects. That’s why we value Bitcoin and hold a significant amount of BTC as a store of value.
While the famous fund manager does not believe that Bitcoin will become a universal standard of money, he points out that some predicted scenarios may contradict the geopolitical interests of the United States. However, he states that Bitcoin’s global usage could reduce the trust in the US dollar and lead some countries to trade with Bitcoin or gold-backed instruments. Furthermore, according to Scaramucci, the current financial system is flawed and the flaws in the financial system can only be corrected through long-term planning and efforts.
Scaramucci’s prediction of Bitcoin’s market value implies that the price of the largest cryptocurrency with a current supply of 21 million BTC could reach $700,000. This is significantly higher compared to the current price of approximately $27,860.
“SBF Broke My Heart”
Meanwhile, Scaramucci expressed his disappointment in Sam Bankman-Fried (SBF), the founder and former CEO of the bankrupt FTX exchange, who is currently being tried. FTX Ventures, the investment arm of FTX, filed for bankruptcy after acquiring a 30% stake in SkyBridge in September 2022. According to Scaramucci, SBF will be found guilty and face punishment.
Currently, SBF’s former four colleagues have admitted their guilt, but SBF maintains his innocence, and the ongoing trial process is expected to conclude next month.
