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Former Hedge Fund Manager and FinTech entrepreneur Anthony Scaramucci believes that the price of Bitcoin (BTC) may reach a staggering $200,000 by the end of 2025. Speaking at an event, he argued that the current market value of Bitcoin is not justified considering its potential adoption rate.
Scaramucci, who has been vocal about his bullish views on cryptocurrency in the past, stated that he would maintain to the people in this room that Bitcoin should be at a price that it was supposed to be in January 2022. He further argued that the Securities and Exchange Commission (SEC) was too late to approve spot Bitcoin ETFs.
However, Scaramucci pointed out that SEC Chair Gary Gensler eventually decided to greenlight these products despite some objections from two anti-crypto commissioners earlier this year. The former White House communications director slammed Gensler for being arbitrary and capricious with his application of the law, stating that he did something to the industry that held back pricing and held back where we are today.
Scaramucci’s prediction of a $200,000 price by 2025 is based on his analysis that the adoption rate of Bitcoin will continue to increase. He believes that this growth will be driven by mainstream acceptance of cryptocurrency as an investment vehicle and its potential for use in everyday transactions.
While Scaramucci’s prediction may seem optimistic to some, it is worth noting that he has been correct about his predictions in the past. In 2020, he predicted that Bitcoin would reach $10,000 before the end of that year, which turned out to be a reality.
Source: u.today
