The founder of investment firm SkyBridge Capital predicts that the price of Bitcoin (BTC) will more than double next year.
In a new interview on the Bankless podcast, hedge fund veteran Anthony Scaramucci says Bitcoin demand will likely continue to rise, leading to a supply shortage that will send the flagship crypto asset soaring.
“There will be a supply shock and therefore there is no reason why this cannot rise to $200,000 in the next 12 months. You don’t have enough Bitcoin on the market. So what happens? I have to own it. My board just told me that I need to get a 1 percent position. Okay, what do I have to do? I need to buy a 1% position. You start buying it. It’s liquid. It is the deepest crypto market. But it’s not super fluid. $10 billion will move this market. It’s just going to be that way.”
Scaramucci also predicts that the US government under the leadership of President-elect Donald Trump will create a Bitcoin reserve.
“Let me tell you why I think it will happen. Trump wants it to happen, and he has the Senate Banking Committee. [Republican US Senator] Tim Scott wants it to happen. He will become chairman of the Senate Banking Committee…
