Anthony Scaramucci, founder of Skybridge Capital, has predicted that Bitcoin could potentially become a $500,000, even $700,000 asset, despite only 5% adoption in the U.S.
In an interview with David Lin on June 7th, Scaramucci suggested that if Bitcoin continues to scale and adopt at the same pace as in the past decade, its value could reach unprecedented heights. He compared Bitcoin’s potential growth to that of gold, touting, “If gold is at $16 trillion and Bitcoin is at $1.5 trillion, could Bitcoin surge 10x in the next 15 years?”
Scaramucci had previously spoken to CNBC last April about his $16 trillion market cap prediction for Bitcoin reminding viewers, no one who held onto the asset had lost money in the past 4 years.
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Scaramucci explained to Lin that in the digital world, people would accept a store of value if it meets certain criteria: scarcity, ease of use, and trustworthiness. He told David, “There’s no reason why this can’t be a $300,000, $400,000, $500,000 asset.”
Scaramucci also noted that Bitcoin is currently tracking like a tech asset, similar to Nvidia and other major tech stocks. However, as it matures, it will start to exhibit properties similar to gold. He also mentioned that rate cuts by central banks could impact Bitcoin, as they expand market equity and provide relief in sectors like real estate.
Last month, Scaramucci joined Benzinga’s PreMarket Prep Monday. When the topic of 5% adoption in the US surfaced, he said, “That’s akin to Web 1 in 1999. I would just tell you to look at the Web 1 volatility of stocks like Amazon, eBay, etcetera, back in 1999. As things adapt and scale (and I predict Bitcoin will scale), you will see a situation where Bitcoin has a billion users. The value of that network will be exponentially larger, and Bitcoin will be at $150,000.”
While acknowledging gold’s 5,000-year history as a valuable asset, Scaramucci pointed out that gold isn’t as user-friendly or transportable as Bitcoin. He said, “I understand why people own gold. I understand the 5,000-year human commitment to gold, but it’s just not as user-friendly, it’s not as transportable as Bitcoin.”
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This article Anthony Scaramucci Says Bitcoin Can Hit $700K, Predicting Match To Gold — ‘Could Bitcoin 10x In The Next 15 Years? I Believe It’ originally appeared on Benzinga.com
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