Anthony Scaramucci, founder of SkyBridge Capital, states that cryptocurrencies are now seeking fair market prices following a period of stagnation. Market pressures persist after the FTX collapse and increased regulation.
Impact of the 2022 FTX Collapse and SEC Regulations
Scaramucci noted that cryptocurrency markets remain heavily suppressed, referencing significant assets like Bitcoin, Solana, and Ethereum that have been affected by the catastrophic events of 2022 and subsequent regulatory scrutiny. He pointed out that the U.S. Securities and Exchange Commission’s enforcement actions have played a crucial role in keeping crypto prices low.
Trump and Market Valuations
Reports indicate that SEC Chairman Gary Gensler may resign before President Donald Trump takes office, leading to a more favorable regulatory environment for cryptocurrencies. The U.S. is likely to adopt similar regulatory measures to those in the UAE, Qatar, Singapore, and Hong Kong.
Bitcoin’s Prospects as an Independent Asset
Currently, Bitcoin is trading at around $91,912. Scaramucci also pointed out that Bitcoin’s market value should be closer to that of gold, emphasizing that Bitcoin is not merely a stock but an independent asset class.
Anthony Scaramucci believes that anticipated regulatory changes could stimulate healthy market growth by facilitating greater transparency and fairness in digital asset valuation.
