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Title: Golden Bull Run? Scaramucci Forecasts $200K Bitcoin & Backs US Reserve Plan
Anthony Scaramucci, a well-known investment manager and founder of Skybridge Capital, has made headlines with his bold predictions for the future of Bitcoin (BTC) and the potential establishment of a US Bitcoin Strategic Reserve. In an exclusive interview, Scaramucci revealed his expectations for Bitcoin’s price to reach $200,000 by 2024, indicating a market capitalization of $4 trillion, rivaling major technology companies like Apple and Nvidia.
Scaramucci’s projection is based on his belief that countries will begin building their sovereign cryptocurrency positions, creating a “Nash game theory” scenario where nations feel compelled to participate. This could lead to a self-reinforcing cycle, driving the value of Bitcoin upward. In his view, it is essential for the US to take action and create a strategic reserve of Bitcoin to protect its economic sovereignty.
The Skybridge Crypto ETF, which Scaramucci oversees, has seen significant success in recent years, with a 150% return since inception. This performance is attributed to a diversified portfolio strategy that includes investments in key players within the digital asset ecosystem, such as miners, software companies, and exchanges. The fund actively manages its holdings based on earnings momentum.
Notably, Scaramucci has been vocal about his disdain for recent cryptocurrency initiatives, including meme coins, which he believes have hindered positive crypto regulation. He emphasized that Bitcoin’s ability to reach mainstream adoption and attain a market capitalization of $15-20 trillion is crucial for it to be taken seriously as an asset class.
The idea of a US Bitcoin Strategic Reserve has gained traction in recent months, with several countries already establishing their own digital reserves. Scaramucci anticipates the framework for this initiative will be outlined by the end of 2024, although he acknowledges that the scale may not meet the expectations of some cryptocurrency enthusiasts.
In conclusion, Scaramucci’s $200K forecast and support for a US Bitcoin Strategic Reserve demonstrate his confidence in the long-term prospects of the digital asset space. His words serve as a reminder to investors to maintain their focus on fundamental trends rather than short-term market volatility.
Source:
Source: coincentral.com
