Skybridge Capital founder Anthony Scaramucci told Melissa Francis during an interview on Magnifi by TIFIN, that he believes Bitcoin (BTC) can still make $100,000 by the end of this year, after making similar predictions for the 2021 year-end valuation of the top cryptocurrency.
According to Scaramucci, his 2021 prediction was off since he failed to properly assess the regulatory environment. He said:
“I thought once you had the bitcoin futures [ETFs], you’d end up with the cash pretty immediately. Too much political headwind for that.”
Nevertheless, the former White House advisor said Bitcoin can still reach $100,000 this year and is set for much more after:
“Could it get there this year? Yes. Is it likely to get there over two years? I’m very confident of that. But we’ve got some work to do here from a regulatory perspective.
We got to get the markets to calm down a little bit. We’ve got to get through Covid. But it’s not going anywhere.”
Noting that Bitcoin is “early adopting technology” and that there “will be periods of time where bitcoin will crash, down 50 plus percent,” he said:
“But if you’re willing to zoom out and look at the long term chart and look at the adoption story, could bitcoin get to a half a million dollars a coin? I believe it will.”
In response to a question, Scaramucci also gave some advice for the average investor who has not yet invested in crypto. He explained:
“I would buy some [however] I would average in.
The only way you can handle technology like this is to dollar-cost average and buy a little every month.”
He added:
“I would pick a number that you are comfortable with and buy a little every month.”
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Source: Igaming
