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SkyBridge Capital’s Anthony Scaramucci Bullish on Bitcoin, Expects $170K Valuation Within 18 Months Post-Halving

In a recent interview with CNBC, Anthony Scaramucci, the founder of SkyBridge Capital and former White House Communications Director, expressed his bullish outlook on Bitcoin. Scaramucci anticipates Bitcoin to surge to at least $170,000 within the 18-month post-halving cycle.

Highlighting the rapid growth of Bitcoin ETFs, Scaramucci noted that they amassed over $10 billion in inflows within just three months, surpassing the speed at which Gold ETFs achieved similar milestones.

Scaramucci underscored the depreciation of the USD, which has lost nearly 22% of its value since January 2020, contrasting it with Bitcoin’s over 800% increase during the same period. Despite Bitcoin’s volatility, Scaramucci emphasized its profitability for long-term holders.

Viewing Bitcoin as a long-term asset rather than merely a short-term inflation hedge, Scaramucci suggested that Bitcoin could potentially reach half the valuation of the gold market and conclude this cycle at $170,000.

In addition to discussing Bitcoin’s potential, Scaramucci also addressed the recent sentencing of Sam Bankman-Fried, whose venture capital unit of FTX had acquired a stake in SkyBridge. Scaramucci expressed sadness for Bankman-Fried’s situation, considering his potential and mental condition, though he deemed the 25-year sentence to be light.

Reflecting on the impact of Bankman-Fried’s actions on SkyBridge and its stakeholders, Scaramucci lamented the damage caused to his business and reputation. However, he acknowledged the possibility of affected individuals recovering their funds, albeit in a dollarized form, while also expressing the frustration of some over Bitcoin’s appreciation since the incident.

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