Anthony Scaramucci, former White House Communications Director and current CEO of an investment company, has shown great interest in cryptocurrencies. Often sharing optimistic comments on the future of cryptocurrencies, his latest market predictions have indeed stirred excitement among investors.
Bitcoin and the Crypto Future
Scaramucci, CEO of hedge fund SkyBridge Capital, is stating that Bitcoin is currently valued way below its deserved worth. He mentioned in a recent interview that following last year’s FTX debacle, the crypto market experienced abnormal losses due to excessive sell-offs. We saw unprecedented events during that period. The unbreakable support of $20,000 was breached, and the price dropped to around $15,400.
So, what should be Bitcoin’s value now and in the near future? Anthony gives a clear answer: $40,000. To him, the fair value for Bitcoin today is $40,000. Of course, under this scenario, the majority of altcoins should also be valued at least 200% higher than their current levels.
Who’s the Best Cryptocurrency Commentator in the World?
Considering his career and the consistency of his past predictions, Anthony Scaramucci could be among the top contenders. However, the crypto market is highly volatile, and there is no 100% success rate here. We’ve seen even the most popular experts incorrectly predicting short and medium-term prices multiple times. So, how does Scaramucci assess the current situation?
Last year, a lot happened. You’re talking about the Sam Bankman-Fried incident. If John Meriwether and Bernie Madoff had a baby, it would be Sam Bankman-Fried. This story has everything. There’s fraud, excessive leverage, overconfidence. And it really caused a big depression in the markets. And the market was probably oversold to the downside. That’s why we think Bitcoin is fundamentally worth about $40,000.
Scaramucci forecasts that if Bitcoin’s adoption level doubles from its current state, the king cryptocurrency will make massive rallies.
“What we’re seeing is improved miner activity, we’re seeing wallet expansion… Bitcoin has a 4% global adoption, about 340 million wallets. This is roughly equivalent to where the internet was in 1998. We just need to go from 4% to 8%, and you will see explosive returns in Bitcoin. That’s why I want people to be patient.”