Despite warning financiers of BTC’s notorious volatility, Anthony Scaramucci from SkyBridge Capital forecasted a 100% price boost for the asset by the end of the year and going into a six-digit cost area. He argued that the demand for the property has actually increased lately and admitted that his investment company holds over $500 million in BTC.
$100K By 2021’s End, Scaramucci Says
Since the billion-dollar hedge fund SkyBridge Capital revealed plans to launch a Bitcoin Fund in late 2020, the entity’s creator Anthony Scaramucci has been extremely positive about the cryptocurrency’s performance and future.
Formerly, he somewhat controversially said that buying BTC is as safe as allocating funds in gold and bonds while likewise laying out that bitcoin is better than the rare-earth element.
In a current CNBC Squawk Box look, Scaramucci was asked to supply his 2021 cost target for the cryptocurrency. While he mentioned BTC’s widely known volatility and warned financiers to be cautious of it, the executive provided an optimistic cost trajectory for the asset by the end of the year.
“I do believe we see $100,000 in this coin prior to year-end.”
Scaramucci highlighted the massive need for the cryptocurrency as of late. He kept in mind that there’s “not a lot of supply out there” while the demand keeps increasing.
Scaramucci breached MicroStrategy as a solid example for big corporations that have and plan to designate significant amounts in BTC. Just today, the NASDAQ-listed giant revealed plans to raise $900 million through convertible senior notes and to buy bitcoin with the net proceeds.
Anthony Scaramucci. Source: Yahoo SkyBridge Has $ 500M In BTC Apart from making forecasts on bitcoin’s rate efficiency in the upcoming months, Scaramucci discussed the previously mentioned Bitcoin Fund L.P. released previously this year. Without supplying lots of details, he said that the fund is “doing quite well.”
Furthermore, the former White House Communications Director verified that his company had actually joined the BTC bandwagon with a considerable investment of its own. As per his words, SkyBridge Capital has “over a half of billion dollars in bitcoin today.”
Included Image Courtesy of CNBC