As we at Kriptokoin.com have been reporting, the Bitcoin price has been experiencing fluctuations this week. Anthony Scaramucci, founder of SkyBridge Capital, predicts that Bitcoin (BTC) will reach new highs in less than six months. In a new interview with CNBC, Scaramucci stated that Bitcoin could hit six figures after its correction in the $50,000 band.
Bitcoin (BTC)’s Future Potential
Scaramucci believes that Bitcoin’s current correction is temporary and cites the settlement of former crypto exchange Mt. Gox’s settlement with its creditors and the German government’s Bitcoin sales. Scaramucci said he likes Bitcoin’s long-term fundamentals and that it could reach $100,000 by the end of 2024.
I think Bitcoin’s current correction is temporary. Gox’s settlement with its creditors and the German government’s sell-off. We still have confidence in Bitcoin’s long-term fundamentals. I think it could reach $100,000 by the end of 2024, but it needs to recover from the current situation.
Impact of FTX Account Holders
Scaramucci predicts that FTX account holders will soon be reunited with their funds, which will provide a major boost to Bitcoin. He noted that funds frozen following the collapse of the FTX exchange will soon be released.
FTX will soon return about $16 billion in cash to its investors. This is very good news for Bitcoin holders. A large portion of these frozen funds were held in Bitcoin. Unfortunately, during the bankruptcy, they were converted to dollars at low Bitcoin prices, but these funds will soon be returned to their account holders, and we expect that a large portion of these funds will be invested in Bitcoin again.
The Democratic Party and Digital Assets
Scaramucci also noted that the Democratic Party’s reluctance to embrace digital assets could cost them critical votes in next November’s US presidential elections. He emphasized that the number of voters who see digital assets as the sole voting criteria could increase.
Let’s assume that only 20 million wallets are eligible to vote in the US and that 10% of them vote on digital assets alone. In this case, 2 million potential voters could decide the outcome of six or seven swing states in a very close election. In the long run, I believe digital assets will become an accepted asset class in the US.
Current Status of Bitcoin (BTC)
Following Scaramucci’s statements, the price of Bitcoin rose nearly 3 percent to $57,747. This increase reflects investors’ confidence in long-term prospects. Scaramucci’s predictions and other positive developments in the market are increasing belief in Bitcoin’s future potential.
Scaramucci’s analysis and predictions offer important tips for BTC investors and those interested in digital assets. Bitcoin’s potential to reach $100,000 by the end of the year continues to attract investors’ attention.
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