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9 months ago
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ARTICLE AD BOX
BITCOIN : Scaramucci also praised BlackRock CEO Larry Fink for “[doing] his homework” on BTC and changing his mind on the asset.
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Anthony Scaramucci sees bitcoin soaring to at least $170,000 after the halving in April. (Shutterstock/CoinDesk)
Skybridge Capital founder and managing partner Anthony Scaramucci sees bitcoin (BTC) soaring to at least $170,000 after the halving in April, when the number of new BTC entering circulation shrinks again.
“Go back and look at BTC halving cycles,” Scaramucci said on the Scott Melker podcast. “The day that Bitcoin halves, multiply it by four [and] 18 months later and it’s been uncanny that that’s been the price of BTC .”
“I’m using a $35,000 number at the halving and that’s conservative … Let’s say we’re at $50,000 in April, then it’s a $200,000 handle. Let’s say we’re at $60,000, it will be $240,000,” he said.
As for his long-term price target, Scaramucci predicts BTC could easily reach half of the market capitalization of gold, which would bring the price of one coin up to roughly $400,000.
Scaramucci previously disclosed that he was the first external investor in BlackRock’s spot BTC exchange-traded fund (ETF), prior to its approval on January 11.
Ahead of BlackRock’s interest in a BTC ETF, its CEO Larry Fink was famously skeptical about the asset. In public interviews since his company last June filed paperwork for the ETF, however, Fink has done an about face, calling himself “a big believer.”
“I’m going to give Larry a lot of credit, because Larry actually did the homework [on bitcoin],” Scaramucci said. “It takes a very smart leader to pridefully say that bitcoin sucks and then 24 months later say ‘you know what I got this wrong, BlackRock needs to be a part of this.’”
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