Bitcoin ETF

Bitcoin

Gary

SALT

SkyBridge Capital founder Anthony Scaramucci believes that if Balckrock receives approval to launch a spot Bitcoin ETF, it could cause Bitcoin’s value to multiply as much as 11 times.
The politically connected entrepreneur — who is also the founder and chairman of SALT, a global conference series that covers finance, economics, and geopolitics — argues that a BlackRock <a href="https://crypto.news/us-sec-accepts-blackrocks-spot-bitcoin-etf-application/" target="_blank" rel="noopener noreferrer nofollow">greenlight</a> could cause a massive $100 billion in institutional investments.
This would turn Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) into a $600 trillion asset.
Speaking on the YouTube channel “Altcoin Daily” hosted by the Arnold brothers, he mentions how this imminent approval can spike the price of Bitcoin.
<blockquote class="wp-block-quote">
 “Think of the magnitude of that, if there’s $100 billion that flows in bitcoin … that could have an 11-times factor in terms of valuation. So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.” <cite>Anthony Scaramucci, founder, SkyBridge Capital</cite>
</blockquote>
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 <div class="wp-block-embed__wrapper"><iframe title="Political Insider EXPOSES Gary Gensler, SBF, &amp; BlackRock Bitcoin ETF" width="1020" height="574" src="https://www.youtube.com/embed/HVPxtxbOBLI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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Extrapolating the current price of Bitcoin, Scaramucci added that a BlackRock ETF approval could see Bitcoin potentially go as high as $330,000.
You might also like: <a href="https://crypto.news/scaramucci-bitcoin-etf-could-push-btc-price-high-2024/" rel="noopener noreferrer nofollow"> Scaramucci: Bitcoin ETF could push BTC price much higher in early 2024 </a>
<h2 class="wp-block-heading" id="strong-on-sam-bankman-fried-strong">On Sam Bankman-Fried</h2>
In the segment, Scaramucci also spoke about his company’s <a href="https://crypto.news/skybridge-may-buy-back-stake-held-by-bankrupt-ftx/" target="_blank" rel="noopener noreferrer nofollow">association</a> with former FTX CEO Sam Bankman-Fried, who is currently on trial for money laundering and fraud.&nbsp;
Scaramucci’s name was brought up on <a href="https://crypto.news/sbf-trial-day-12-ftx-founder-misled-in-house-lawyers-on-alameda-use-of-customer-funds/" target="_blank" rel="noopener noreferrer nofollow">day 12</a> of the trial, leading to questions about whether he would <a href="https://www.afr.com/world/north-america/bankman-fried-s-father-ex-trump-staffer-among-possible-trial-witnesses-20231004-p5e9l4" target="_blank" rel="noopener noreferrer nofollow">testify</a> in the case.&nbsp;
Don’t expect the SkyBridge founder to testify. Scaramucci confirmed that he had already spoken to the Department of Justice (DoJ) and turned over his text messages, emails, and Signal account.&nbsp;
The DoJ did not feel he had any “smoking gun info” on Bankman-Fried and thus did not need to call him to the witness stand, he says.
Scaramucci maintains that Bankman-Fried bears blame for the illegalities that allegedly happened at FTX.
“Sam equivocated his ADHD and his sloppiness and his disorganization as a cover for the crimes that were being committed,” Scaramucci said. “You can’t have $8.8 billion of your customers’ money in your personal account no matter what your excuse for that, you cannot do that.”
However, he believes Bankman-Fried’s <a href="https://fortune.com/2022/12/13/how-much-jail-time-sam-bankman-fried-up-to-115-years-fraud-ftx-crypto/" target="_blank" rel="noopener noreferrer nofollow">sentence</a> may be lighter than people may want, as he expects the former FTX boss to blame his “youth and inexperience” for the goings-on that led to the crypto exchange’s collapse.
On <a href="https://www.wsj.com/articles/sec-security-breach-gary-gensler-george-jarkesy-supreme-court-9917cfc7" target="_blank" rel="noopener noreferrer nofollow">Gary Gensler</a>, Scaramucci described the Securities and Exchange Commission (SEC) chair as “arrogant” and “self-righteous,” stating that “he will be a problem for the crypto industry for a while.”
Read more: <a href="https://crypto.news/crypto-demand-evident-amid-etf-fake-news-blackrock-ceo-says/" rel="noopener noreferrer nofollow"> Crypto demand evident amid ETF fake news, BlackRock CEO says </a>

BlackRock ETF could push BTC valuation 11x, Scaramucci says

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