A top executive of a New York-based global investment firm made an audacious claim that Bitcoin breaching the six-figure price will happen very soon.
SkyBridge Capital founder Anthony Scaramucci said that in the next two years, BTC will be traded at $176,000, joining other crypto investors who believed that the oldest cryptocurrency is ripe for a six-figure price per coin.
Bitcoin To Rally Threefold
Scaramucci hailed the alpha crypto asset for sustaining a price surge in only a short period, adding that it sees the digital asset to further surge in the next two years.
Scaramucci’s statement was timely as BTC today regained its momentum and once again hit the $70,000 level after the crypto scared many investors as the digital asset slid further down to $68,000 yesterday.
According to Scaramucci, he has an ambitious prediction on Bitcoin, saying that by mid-2026, the cryptocurrency will be traded at $176,000. In the previous days, several notable crypto personalities shared the same vision with Scaramucci of the likelihood that BTC will hit the six-figure mark. One of which even predicted a price of $220,000.
SkyBridge’s Scaramucci says US will solve debt crisis, bitcoin to triple by 2026 https://t.co/aKYDI6vW2N pic.twitter.com/1BQCdomKHy
— Reuters (@Reuters) October 30, 2024
The SkyBridge founder explained that the cryptocurrency could experience a threefold rise in its price in 18 to 20 months, saying that the rally is highly plausible because there is a growing demand for the coin, but the supply is fixed which is the right ingredients for an exponential price uptick.
A Kamala Harris Supporter
Scaramucci is among the few known crypto investors who announced their support for the presidential candidacy of current US Vice President Kamala Harris.
Scaramucci disclosed in previous interviews that Harris would be endorsing Bitcoin once she got elected to the White House.
The SkyBridge managing partner has been working closely with the camp of the Vice President to craft policies that will allow cryptocurrency to thrive under her administration.
He added that there had been development in Harris’ crypto agenda which he plans to reveal soon.
BTC-Gold Connection
In a separate interview, Scaramucci supported the relationship between gold and Bitcoin, saying that BTC is comparable to gold as an asset.
The SkyBridge founder described the firstborn virtual coin as the digital gold of the cryptocurrency world. He noted that other leading financial experts, including BlackRock CEO Larry Fink, also believe in the Bitcoin-gold comparison, predicting that BTC would reach half of the gold’s market cap.
He suggested that it would take Bitcoin about 10 years to attain such a milestone which would greatly benefit its investors since they would get a tenfold return on their BTC investments.
At the time of writing, gold is being traded at $2,754 per ounce, a new all-time high, and boasts a market cap of $18.494 trillion.
Featured image from DALL-E, chart from TradingView