SkyBridge Capital Founder Anthony Scaramucci Predicts Bitcoin (BTC) Could Hit $100,000

The prediction comes amid a recovery in the coin's price and the broader crypto market.

SkyBridge Capital founder Anthony Scaramucci has predicted that Bitcoin (BTC) could reach $100,000 during a recent Squawk Box CNBC interview. The prediction comes amid a recovery in the coin’s price and the broader crypto market.

Scaramucci, who is known for his bullish stance on Bitcoin, said that the crypto is “stalling out” at $60,000 due to regulatory hurdles, uncertainty, fraud exposure and over-leverage. However, he believes that once these issues are resolved, Bitcoin will be able to continue its rally and reach new highs.

“I think we’re stalling out at 60 [thousand], and I think it’s stalling out because there are a lot of regulatory issues that need to be addressed, there’s still uncertainty, there’s still fraud that people are exposed to and there’s still over-leverage,” Scaramucci said.

“But once those issues get resolved, I think you’ll see Bitcoin continue to rally and hit new highs. I still believe that Bitcoin will trade for $100,000 per coin.”

Scaramucci’s prediction is in line with several other bullish price targets that have been set for Bitcoin this year. Stock-to-flow model predicts that BTC will hit a high of $200,000 this year. Due to their relative scarcity, this model compares Bitcoin to commodities and precious metals like Gold, Silver or Platinum.

The approval of the spot Bitcoin Exchange-Traded Fund (ETF) has led to mass adoption from institutional investors, Scaramucci said in the CNBC interview. He highlighted that Bitcoin was hovering around $30,000 and was decimated in 2022 as it dropped to $17,000.

“I think the approval of the spot Bitcoin ETF in the US made it safe for institutional investors to enter the Bitcoin market. We saw how banking giant Morgan Stanley is now seeing its financial advisors solicit people on Bitcoin.”

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