Anthony Scaramucci, a former White House Director of Communications and the founder of top investment firm SkyBridge Capital, has predicted that the value of Bitcoin could rise well above $100,000 before this year runs out. He made this prediction in a recent interview on CNBC’s “Squawk Box.”
According to Scaramucci, he says the reason he believes the coin could break the $100,000 mark was because of its limited supply and the unending level of demand for the asset though, he accepts that the coin could be volatile. In his words, “I do think we see a hundred thousand dollars in this coin before the year ends. It’s just a supply-demand situation, and you don’t have a lot of supply out there and very heavy demand.”
The Mooch calling for $100,000 Bitcoin by year end.
— Pomp 🌪 (@APompliano) February 17, 2021
The SkyBridge founder also mentioned that his company’s Bitcoin fund which started in December still has its eyes set on institutional investors and he admitted that the funds has performed “quite well” since its launch. The investment firm during its announcement had said that it wanted to provide “mass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin.”
Inflation Would Drive Big Corporations to BTC — Scaramucci
In another interview, Scaramucci was quoted to have said that corporate institutions would be drawn to the crypto king because of the high inflation rate affecting fiat currency. He noted that the inflation rate could rise as high as 40% especially when the new $1.9 trillion stimulus package is launched. This would put firms like Tesla in a position where they would say “okay, I’m losing value in dollars, but I’m not necessarily losing value in Bitcoin because of its scarcity.”
The investment manager also called on his colleagues and investors to invest in BTC because “if you’re not going to be an investor in Bitcoin, you’re effectively short Bitcoin” while at the same time advising those who have invested in the asset to “expect volatility. (And) Invest in Bitcoin at the size and scale of money that you don’t need in the short term, but I do think it has a very big future.”