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Anthony Scaramucci Says Cryptocurrencies Will Rise If This Presidential Candidate Wins Election: “I Think We Will See All-Time Highs for Bitcoin and Other Assets”
Capital of the Sky Bridge CEO Antonio Scaramucci he predicted a significant increase in the value of Bitcoin Bitcoin/USD. Bitcoin is expected to skyrocket nearly 300% and Ethereum ETH/USD will increase by approximately 240% compared to current values.
What happened: During a interview with Unchained last week, Scaramucci predicted that Bitcoin could reach a value between $170,000 and $250,000 and that Ethereum could reach $10,000 – $12,000.
“I can only give you my guess and so I think we’ll get to $10,000 – $12,000 on Ethereum. And I think we’ll get somewhere [between] $170,000 to $250,000 on Bitcoin,” he said.
“The most important thing for me is that someone declares Bitcoin an asset class. It will be an advisor. These large pension funds, to preserve their jobs, turn to external advisors and ask them for advice on asset allocation, with who to put the money, where to put it, private equity, hedge funds, etc., stocks and bonds,” Scaramucci added.
He also speculated about a victory for the president Joe Biden in the upcoming elections, which he believes will trigger new all-time highs for cryptocurrencies.
“I think we will see all-time highs for Bitcoin and other assets in this category during a second Biden administration,” Scaramucci said.
Scaramucci also highlighted the potential for increased adoption of Bitcoin by institutional investors as a significant bullish catalyst for this cycle.
Imagine a scenario where Bitcoin is declared an asset class, leading to its inclusion in institutional tactical portfolios allocated to assets.
“And someone will declare Bitcoin an asset class, and then suggest that Bitcoin should represent 1%, 2%, 3% of an institutional tactical portfolio allocated to assets. And when that happens, it will open up a huge vein of demand for Bitcoin,” she said.
He cited Wisconsin’s recent announcement to hold about $160 million worth of Bitcoin as an example of this trend.
“I think that is happening and that will create an acceleration of adoption and an acceleration of upward pricing,” he added.
Because matter: Scaramucci’s bullish predictions for Bitcoin and Ethereum are not new. In early April, he had already predicted a promising trajectory for Bitcoin, attributing its growth potential increase in demand and decrease in supply.
He highlighted the significant role of Bitcoin spot market Exchange Traded Funds (ETFs) in overcoming regulatory barriers and introducing new capital investments into the cryptocurrency.
According to Scaramucci, Wall Street’s involvement has turned Bitcoin into an in-demand asset, especially with the upcoming halving event, which will reduce the daily issuance of new coins.
Now read: An analyst predicts that Bitcoin will reach the breakthrough milestone of $100,000
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