The founder and CEO of asset management firm SkyBridge Capital, Anthony Scaramucci, has claimed that with the approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC), BTC will see its all-time high by the end of 2024.
“Bitcoin to Hit ATH Soon!”
The American financier, who briefly served as the White House Communications Director in 2017, emphasized in an interview with CNBC that due to the SEC allowing individual investors access to the leading cryptocurrency, BTC is likely to break its all-time high by January 2025. Scaramucci’s comments came within 24 hours after the U.S. securities regulator greenlit 11 spot Bitcoin ETFs for listing and trading on Nasdaq, the New York Stock Exchange (NYSE), and the Chicago Board Options Exchange (CBOE).
A Historic Rise for BTC!
The long-awaited approval is intended to provide individual investors with access to BTC, offer an alternative to the existing financial system, and is expected to accelerate crypto adoption. Like the crypto community, the SkyBridge founder believes the SEC’s decision is a turning point for Bitcoin and stated that the event is “truly a major breakthrough” for Bitcoin as a digital asset:
I think this is a much broader story for digital property in general, and I believe Bitcoin will probably see its all-time high before the end of this year and most likely reach an all-time high around this time next year.
Bitcoin reached its last all-time high during the bull market in November 2021. However, the token’s price collapsed along with the entire crypto market and several projects as the bear season took hold in 2022. The cryptocurrency’s price increased by 150% in 2023, fueled by the excitement of the Bitcoin ETF approval and upcoming events such as the fourth Bitcoin halving, historically known to kickstart bull seasons.
