Bitcoin

Anthony Scaramucci Asserts President Biden Will Not Be Defeated in Election Due to Gary Genslers Capricious Whims

adminJun. 9, 202402 mins

Anthony Scaramucci, the founder of SkyBridge Capital, predicts that President Joe Biden will support the crypto industry despite opposition from SEC Chair Gary Gensler. In an interview with journalist David Lin, Scaramucci suggests that Biden is changing his stance on Bitcoin and crypto after the recent approval of spot Ethereum ETFs. He believes that Biden may risk losing votes from swing states if he listens to those against crypto. Scaramucci also mentions the SEC’s SAB 121, which requires certain companies to list digital assets as liabilities on their balance sheets.

When discussing Bitcoin, Scaramucci forecasts that the cryptocurrency could reach $700,000 in the next fifteen years due to its potential for growth and adoption. He compares Bitcoin’s market cap to that of gold and believes that it has the technical properties to increase tenfold in value. As of now, Bitcoin is trading at $69,420.

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Anthony Scaramucci Asserts President Biden Will Not Be Defeated in Election Due to Gary Genslers Capricious Whims

adminJun. 9, 202403 mins

Anthony Scaramucci, founder of SkyBridge Capital, predicts that President Joe Biden will support the crypto industry despite opposition from SEC Chair Gary Gensler.
In an interview with journalist David Lin, Scaramucci suggests that Biden is shifting his position on Bitcoin and crypto after the recent approval of spot Ethereum ETFs. He believes that Biden may risk losing votes from swing states if he listens to the criticisms of anti-crypto figures.
“I think the Biden administration, despite vetoing SAB 121, managed to push through the Ethereum ETF approval against the objections of Elizabeth Warren and Gary Gensler. I anticipate a shift in their stance on Bitcoin and crypto assets. Biden, being a moderate, is unlikely to ignore this emerging market. In a closely contested election, he cannot afford to alienate voters because of the opinions of Warren or Gensler.”
Scaramucci also shares his bullish outlook on Bitcoin, projecting a price of $700,000 within the next 15 years.
“With only 5% adoption in the US, Bitcoin remains a promising asset. If it continues to grow at its current rate, we could see it reach $300,000, $400,000, or even $500,000. Given Bitcoin’s market cap compared to gold’s, there is potential for a 10x increase in value. The technical capabilities of Bitcoin support this trajectory, as evidenced by its current performance.”
As of now, Bitcoin is trading at $69,420.
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Disclaimer: The opinions expressed by The Daily Hodl do not constitute investment advice. It is advisable for investors to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. All transfers and trades are done at the individual’s own risk, with any resulting losses being their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, and is not a financial advisor. Please be aware that The Daily Hodl engages in affiliate marketing.