Bitcoin ETF

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Gary

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 <p class="is-style-lead">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.</p>
 <p>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 greenlight could cause a massive $100 billion in institutional investments.</p>
 <p>This would turn Bitcoin (BTC) into a $600 trillion asset.</p>
 <p>Speaking on the YouTube channel “Altcoin Daily” hosted by the Arnold brothers, he mentions how this imminent approval can spike the price of Bitcoin.</p>
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  <p>“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 <a rel="noopener noreferrer nofollow" title="valuation" href="https://thebittimes.com/tag/valuation.html">valuation</a>. So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.”</p> <cite>Anthony Scaramucci, founder, SkyBridge Capital</cite>
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 <p>Extrapolating the current price of Bitcoin, Scaramucci added that a BlackRock ETF approval could see Bitcoin potentially go as high as $330,000.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Scaramucci: Bitcoin ETF could push BTC price much higher in early 2024
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 <h2 class="wp-block-heading" id="strong-on-sam-bankman-fried-strong"><strong>On Sam Bankman-Fried</strong></h2>
 <p>In the segment, Scaramucci also spoke about his company’s association with former FTX CEO Sam Bankman-Fried, who is currently on trial for money laundering and fraud.&nbsp;</p>
 <p>Scaramucci’s name was brought up on day 12 of the trial, leading to questions about whether he would testify in the case.&nbsp;</p>
 <p>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;</p>
 <p>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.</p>
 <p>Scaramucci maintains that Bankman-Fried bears blame for the illegalities that allegedly happened at FTX.</p>
 <p>“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.”</p>
 <p>However, he believes Bankman-Fried’s sentence 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.</p>
 <p>On Gary Gensler, 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.”</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto demand evident amid ETF fake news, BlackRock CEO says
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-etf-could-push-btc-valuation-11x-scaramucci-says-tbt67274.html">https://thebittimes.com/blackrock-etf-could-push-btc-valuation-11x-scaramucci-says-tbt67274.html</a></p>

BlackRock ETF could push BTC valuation 11x, Scaramucci says

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