Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director, has expressed optimism about Bitcoin's future despite current market conditions.
Anthony Scaramucci Is Still Bullish
In a recent CNBC interview, Anthony Scaramucci noted that Bitcoin's price was heavily impacted in 2022 due to various factors but has significantly rebounded this year. The upturn was driven by the approval of spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC), which added market legitimacy. Scaramucci mentioned that Bitcoin will still reach $100,000, though with delays due to regulatory uncertainty and low sentiment caused by crypto scams.
Bitcoin as a Store of Value
Anthony Scaramucci also noted that Bitcoin remains a store of value amid the increase in the price of gold. The gold price has risen by 30% over two years, with gold advocates criticizing Bitcoin's growth after its previous all-time high in 2021. According to Scaramucci, Bitcoin is the future store of value as its adoption increases with more wallets and global use cases. The rising price in recent months supports this narrative. At the time of writing, the BTC price stands at $60,796, a 1.55% increase in the last 24 hours.
Impact of Bitcoin ETFs
Bitcoin ETFs remain instrumental to the asset's growth, providing additional investment opportunities for traditional investors. The SEC's approval gave the market added legitimacy after previous uncertainties. As a result, major institutions and companies have increased their asset exposure.
Anthony Scaramucci continues to be optimistic about Bitcoin's future, believing that the asset will reach new heights despite current challenges and delays.
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