Skybridge Capital's founder says bitcoin "will easily trade at $ 500.000 a coin," noting that investors should buy some right now, even at the current price. “I'm trying my best to explain to them why they need to own this right now,” he said, noting that we're still “very, very soon”.
"These coins will easily be exchanged for 500 thousand dollars"
Anthony Scaramucci, founder and managing partner of New York-based investment firm Skybridge Capital, commented on the US economy, inflation and bitcoin on Friday on CNBC. Scaramucci was briefly the White House communications director during the Trump administration in July 2017.
He was asked if he advised people to buy bitcoin at the current price of around $ 64.000. Scaramucci promptly replied: "no doubt about this".
At the current price level of BTC, he said: "I still believe we are very, very soon." He noted that if Ark Invest CEO Cathie Wood is right and there are "a billion portfolios at the end of 2024 through mid-2025," he expects:
“These coins will easily trade for $ 500.000. Remember, you don't even have enough bitcoin for every millionaire in our society to earn a coin. "
In September, Wood doubled his $ 500 bitcoin price prediction. "If we are right and companies continue to diversify their cash into something like bitcoin, institutional investors start allocating 5% of their funds into ... bitcoin or other cryptocurrencies," he said, "We believe the price will be ten times higher. to that is today… over $ 500.000 ”.
"JPMorgan said there are 49 million millionaires based on the US dollar fiat currency," added Scaramucci. “You don't even have enough [for every millionaire]. So, for me, I think this is a very poor property ”.
This is the best time
He further explained that given fears of rising inflation: “I'm telling people to own some bitcoin because it gives you an evolving adaptive technology. And the second thing it offers you is a potential hedge against inflation ”. He continued:
“This is very, very early for people. And I'm trying my best to explain to them why they need to have this right now ”.
What do you think of Scaramucci's advice? You have already started buying your coins on Bitcoin system? Let us know in the comments section below.
