With many investors becoming positive on Bitcoin, the top cryptocurrency is now being valued higher. Anthony Scaramucci, the founder and managing partner of a specific New York-based investment business, says the currency could easily trade at $500,000.
Skybridge Capital’s Managing Partner and Founder
According to News.Bitcoin.com, Anthony Scaramucci, the well-known founder and managing partner of the specific New York City-based investment firm Skybridge Capital, made remarks about the US economy, inflation, and even Bitcoin. Scaramucci did, however, serve as the White House director of communications under the Trump administration in July 2017.
He was reportedly questioned whether he recommends or does not recommend that people buy Bitcoin at the present price of around $64,000. Scaramucci then responded quickly, saying there is “no doubt about it.”
Cathie Wood, CEO of Ark Invest
Scaramucci stated that he believes “we are very very early” at BTC’s current price level, as seen on CoinGecko. Noting that if this is accurate, Ark Invest CEO Cathie Wood is correct, and there will be a billion wallets by the end of 2024, right into the middle of 2025, as he predicts.
Scaramucci stated that the coins will easily trade for $500,000 per coin, and that people do not even need to have enough Bitcon for every rich in society to earn just one coin. Cathie Wood doubled back on her previously stated $500,000 Bitcoin projection in September.
Bitcoin Price Prediction: $500,000
She stated that if they are correct and firms begin to diversify their own capital into things like Bitcoin, and if institutional investors devote just 5% of their own funds into either Bitcoin or other crypto, the price could rise tenfold where it is today, reaching over $500,000.
According to JPMorgan, there are currently 49 million millionaires based on the United States dollar fiat currency. Scaramucci went on to say that there isn’t even enough for every millionaire, stating that he considers this to be a highly precious form of property.
Bitcoin as a Potential Inflation Protector
He then said that, due to escalating inflation fears, he is advising individuals to acquire at least a little amount of Bitcoin. This is due to the fact that Bitcoin provides owners with an adaptable technology that is still evolving at the time.
Another reason Scaramucci believes individuals should hold Bitcoin is that it may be used as an inflation hedge. He went on to say that it is still very early for people and that he is doing his best to explain why they need to hold Bitcoin right now.
Before entering or investing in any type of asset, it is critical for consumers to DYOR, or conduct your own research. Despite the fact that more and more investors and analysts are becoming bullish about Bitcoin, it is critical to DYOR before investing.