SkyBridge Capital’s founder Anthony Scaramucci predicts that Bitcoin (BTC) could reach a market cap of $15 trillion, representing a massive 2,662% increase despite recent regulatory obstacles and market tightening factors.
During an interview on the OPTO – Invest in Innovation podcast, Scaramucci reaffirmed his optimistic outlook on Bitcoin. He discussed various topics ranging from elections and the financial market to the price and future adoption of Bitcoin.
Scaramucci expressed confidence in the asset’s growth potential, stating that with the current market conditions, there is a possibility for Bitcoin to become a $15 trillion asset, surpassing the value of gold.
“I believe Bitcoin could easily become a $15 trillion asset,” he said, highlighting his reasons for owning the asset.
While providing his Bitcoin forecast, Scaramucci criticized the current state of the financial market, describing it as broken and in need of extensive planning over the next 15-20 years to rectify.
Furthermore, Scaramucci disagreed with Bitcoin maximalists who view the asset as a replacement for other currencies. Instead, he sees Bitcoin as a store of value that can coexist with other currencies without becoming the universal standard of money.
AI: It is here to stay
In regards to the Artificial Intelligence (AI) boom, Scaramucci acknowledged the possibility of a bubble. However, he emphasized that this should not discourage people from investing in related stocks. He believes that AI will revolutionize the way we interact with our environment and our jobs, similar to the rise of cloud computing.
“AI will get adopted, replace people’s jobs. It’s not a bad thing… It will be a quantum leap and elevate living standards for the world. Generally, a good thing, and people need to be invested in it.”
The future of money
Scaramucci supports blockchain technology over traditional banking methods because it eliminates the need for third-party intermediaries, making transactions more efficient. He suggests that the money saved from reducing reliance on financial institutions can be redirected as capital for more beneficial financial investments.
Despite the advantages of digital assets, particularly Bitcoin, the market continues to face regulatory challenges, leading to poor investments in the sector. Scaramucci expressed frustration with the role of the Federal Reserve, specifically targeting Janet Yellen and Gary Gensler, stating that they fail to recognize the true potential of Bitcoin.
Gary Gensler has faced significant criticism from the wider crypto community for his involvement in the rigorous regulatory process, resulting in legal disputes between the Securities and Exchange Commission (SEC) and various crypto projects. Many believe this situation will drive investment out of the United States.