Anthony Scaramucci, founder and managing partner of Skybridge Capital, is foreseeing a significant surge in the value of Bitcoin (BTC) following the upcoming halving event in April. According to him, the price is expected to reach a minimum of $170,000 as the issuance of new BTCs into the market decreases.
In a recent appearance on the Scott Melker podcast, Scaramucci detailed his forecast and advised listeners to analyze previous Bitcoin halving cycles for insight into the potential price movements.
Drawing from historical data, Scaramucci emphasized, “Multiply the day Bitcoin had its halving by four and it’s quite interesting that 18 months later, this is the price of Bitcoin. I’m using a figure of $35,000 at the halving, and that’s a conservative number… Let’s say we’re at $50,000 in April, then it would be $200,000. Let’s say we’re at $60,000, then it’ll be $240,000.”
Looking beyond the short-term, Scaramucci also projected a long-term price target for Bitcoin, suggesting that it could potentially reach half the market value of gold, propelling the price of a single coin to approximately $400,000.
Additionally, Scaramucci revealed that BlackRock, the world’s largest asset manager, was the first external investor in the spot Bitcoin exchange-traded fund (ETF) that secured approval on January 11. Notably, BlackRock CEO Larry Fink, who had initially expressed skepticism towards Bitcoin, has since experienced a change of heart. Fink has openly declared himself as a “big believer” in Bitcoin, following the firm’s filing for the ETF last June.
Commending Fink for his shift in perspective, Scaramucci remarked, “I’ll give Larry a lot of credit, because Larry really did his homework on Bitcoin. It takes a very smart leader to proudly say Bitcoin sucks and then 24 months later say ‘you know what, I got that wrong, BlackRock should be a part of it.’”
*This information is intended for informational purposes only and should not be construed as investment advice.
