Key Points
- Anthony Scaramucci forecasts Bitcoin to reach $100,000 by 2024 due to rate cuts and potential pro-crypto legislation.
- Scaramucci believes the potential for pro-crypto legislation and rate cuts from the Federal Reserve could significantly increase Bitcoin’s value.
Anthony Scaramucci, the founder of SkyBridge Capital, has made a prediction about the future of Bitcoin (BTC).
He believes that by the end of 2024, Bitcoin could reach a value of $100,000. This prediction is based on potential U.S. interest-rate cuts and the possibility of pro-crypto legislation.
Scaramucci’s Prediction
During an interview with Bloomberg, Scaramucci discussed the potential for Federal Reserve rate cuts and bipartisan support for crypto and stablecoin legislation. He believes these factors could significantly increase Bitcoin’s value.
Scaramucci, who previously served as a communications director for Donald Trump, also noted the Republican nominee’s recent pro-crypto stance. This shift is seen as a bid to garner votes in a close race against Vice President Kamala Harris, whose position on crypto is less clear.
Future Regulatory Landscape
Despite any uncertainty, Scaramucci remains optimistic about the regulatory landscape under a potential Harris administration. He cited positive discussions with her campaign team as a reason for his optimism.
Scaramucci expects the Federal Reserve to cut borrowing costs by half a percentage point, with up to 150 basis points of cuts in the next 18 months. He believes these moves will favor global asset prices, including Bitcoin, which has already seen a 5% increase leading up to the Fed’s policy decision.