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Title: Golden Bull Run? Scaramucci Forecasts $200K Bitcoin & Backs US Reserve Plan
Anthony Scaramucci, a prominent investor and former White House Communications Director, has made a bold prediction regarding the future of Bitcoin. In an interview, he forecasted that the cryptocurrency’s price will reach $200,000 by 2024. This astonishing target would value Bitcoin at a staggering $4 trillion market capitalization, comparable to major technology companies like Apple and Nvidia.
Scaramucci’s projection is based on his conviction that countries are building their sovereign cryptocurrency positions, creating a “Nash game theory” scenario where nations feel compelled to participate. This, in turn, could lead to a self-reinforcing cycle of growth and adoption.
The fund manager’s optimistic outlook is further supported by the success of Skybridge Capital’s crypto ETF, which has seen a remarkable 150% return over the past year. Scaramucci attributed this performance to strategic investments in key players like Bitcoin miners, MicroStrategy, and Coinbase. The ETF actively manages around 20 stocks, constantly adjusting positions based on earnings momentum.
Despite recent market volatility, including a significant drop from $70,000 to $16,000 in 2021, the ETF has rebounded strongly. Scaramucci reported that the fund’s price has surged from $3-4 per share to $18, with analysts predicting a $35-36 price target.
Scaramucci also highlighted his confidence in other cryptocurrencies like Solana and Avalanche, which he believes will play critical roles in global tokenization. He emphasized the importance of artificial intelligence (AI) in this context, likening the current situation to the early days of the internet.
While expressing skepticism towards recent memecoin launches and their impact on regulation, Scaramucci emphasized that for Bitcoin to achieve status as a major asset class, it would need to reach a market capitalization of $15-20 trillion. He believes this potential trajectory is supported by younger generations’ growing adoption of cryptocurrency.
The idea of creating a US Bitcoin Strategic Reserve has gained traction in recent times. Scaramucci advocates for the establishment of such a reserve, which he believes could accelerate institutional acceptance and contribute to further price appreciation. As nations begin accumulating their own Bitcoin positions, the pressure will mount on the United States to follow suit.
Source: coincentral.com
