Anthony Scaramucci, the founder of SkyBridge Capital, has made bold predictions for the current cycle of Bitcoin (BTC) and Ethereum (ETH).
During a recent interview on the Unchained Crypto YouTube channel, Scaramucci shared his belief that Bitcoin could potentially increase by almost 300% and Ethereum by nearly 240% from their current values.
“I can only offer my estimation for the market top, and I anticipate Ethereum reaching $10,000 to $12,000. As for Bitcoin, I foresee it hitting somewhere between $170,000 to $250,000,” he stated.
Scaramucci also forecasted that President Joe Biden would secure re-election in November, defeating former President Donald Trump, and that cryptocurrencies would reach new all-time highs (ATH) following his victory.
He highlighted institutional investors’ increased adoption of Bitcoin as one of the main bullish factors for this cycle. Scaramucci explained, “I believe that someone will classify Bitcoin as an asset class. This declaration will come from a consultant advising large pension funds on asset allocation strategies. When Bitcoin is recommended as 1%, 2%, or 3% of an institutional portfolio, it will drive significant demand for the digital asset.”
He referenced the recent announcement by the state of Wisconsin, which disclosed owning $160 million worth of Bitcoin as part of its institutional portfolio, signaling a shift towards Bitcoin as a mainstream investment choice.
At the time of writing, Bitcoin was trading at $64,163, showing a slight decrease in the last 24 hours. Meanwhile, Ethereum was priced at $3,531, with a slight increase in the same time period.
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