Anthony Scaramucci, founder and managing partner of SkyBridge Capital, has presented a detailed argument for Bitcoin’s price potentially rising to $1 million. He connects his forecast to Bitcoin’s foundational economic features and a growing embrace from major Wall Street players, marking a significant evolution in how established institutions view digital assets.
Bitcoin satisfies all monetary criteria
Scaramucci draws on the principles outlined by historian Niall Ferguson in “The Ascent of Money,” pointing out that money has consistently depended on traits like scarcity, portability, durability, divisibility, and general acceptance. In his view, Bitcoin demonstrates all of these characteristics, similar to traditional forms of money such as gold and fiat currency.
The SkyBridge Capital founder notes that, like the U.S. dollar—trusted not for its materials but through societal confidence—Bitcoin has accumulated trust in a decentralized manner over its 16-year history. Unlike state-backed currencies that can be devalued by monetary policy, Bitcoin operates without a central authority, reinforcing its resilience and reliability as a store of value.
He also emphasizes Bitcoin’s underlying independence, mentioning that its protocol design includes no single point of failure and remains unaffected by interventions from governments or private institutions. Scaramucci has publicly shared that “every characteristic that has defined money throughout human history, Bitcoin checks every single box. That’s why I’m bullish,” capturing his stance that Bitcoin’s value goes beyond mere speculation.
A dollar bill is made of linen and cotton. But we accept it because we trust it. Over 16 years Bitcoin has built its own trust system — decentralized, no central authority, no single point of failure. And now Morgan Stanley is in. Goldman filed a Bitcoin ETF this morning.
Bitcoin’s decentralized structure, immune to inflation and outside manipulation, serves as a core reason for Scaramucci’s confidence in its long-term monetary potential.
Demand growth and supply limitation shape the $1 million thesis
Scaramucci’s projection for a $1 million Bitcoin price is rooted in mathematics and market dynamics. With a maximum supply capped at 21 million coins, reaching this valuation would bring Bitcoin’s total market value to $21 trillion—still trailing gold’s total global valuation today. This fixed limit, embedded into Bitcoin’s protocol, ensures that no more coins can ever be created.
As both retail investors and institutions join the market, the static supply combines with increasing demand, potentially boosting prices over time. Scaramucci suggests that this rarity is one of Bitcoin’s most compelling features for long-term investors.
He highlights a surge in institutional activity as another critical factor. Morgan Stanley, one of the world’s largest financial services firms, now has exposure to Bitcoin, and Goldman Sachs has submitted a Bitcoin ETF application. These moves indicate a substantial pivot in Wall Street’s attitude toward cryptocurrencies.
Scaramucci believes Bitcoin is now being incorporated into the mainstream asset allocation models for both individual and institutional portfolios. This merging of traditional finance and digital assets is, in his analysis, a primary driver behind the current and future price appreciation.
SkyBridge Capital, founded by Anthony Scaramucci in 2005, is a global investment firm known for its focus on alternative assets, including hedge funds, private equity, and increasingly, digital assets like Bitcoin. Scaramucci, who previously served as the White House Communications Director, has become a vocal advocate for cryptocurrency adoption among institutional investors.
