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SkyBridge Capital founder Anthony Scaramucci expects Bitcoin to reach at least $170,000 within the 18-month post-halving cycle.&nbsp; 
In the latest <a href="https://www.youtube.com/watch?v=4nTfHyBdtWg" target="_blank" rel="">interview</a> with CNBC, the former White House Communications Director expressed his optimism about the Bitcoin market. 
Scaramucci pointed out that <a href="https://crypto.news/bitcoin-etfs-see-203m-net-daily-inflows-halving/" rel="">Bitcoin ETFs</a> reached over $10 billion in cumulative inflow within just three months, a feat that took Gold ETFs a year to achieve. 
The USD has <a href="https://crypto.news/bitcoin-outpaces-usd-since-inception/#:~:text=Since%20its%20inception%2C%20Bitcoin%20has,BTC)%20as%20an%20asset%20class." rel="">lost</a> nearly 22% of its value since January 2020, Scaramucci says, citing how <a href="https://crypto.news/price/bitcoin/" rel="">Bitcoin</a> increased over 800%. The top cryptocurrency suffered extreme volatility throughout this period. However, for long-term holders, BTC returned significant profits. 
Scaramucci sees the largest cryptocurrency as a long-term asset rather than a short-term inflation hedge.&nbsp; 
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 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Bitcoin</a> is up over 140% over the last year, hitting all-time highs last month fueled by demand from spot ETFs. <a href="https://twitter.com/Scaramucci?ref_src=twsrc%5Etfw" target="_blank" rel="">@Scaramucci</a> discusses why he thinks Bitcoin is back: <a href="https://t.co/HJxQEy6XY0" target="_blank" rel="">pic.twitter.com/HJxQEy6XY0</a>— CNBC's Closing Bell (@CNBCClosingBell) <a href="https://twitter.com/CNBCClosingBell/status/1776346772828234177?ref_src=twsrc%5Etfw" target="_blank" rel="">April 5, 2024</a>
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Bitcoin, as a technical asset, could reach at least half the valuation of the gold market, Scaramucci said, adding that it could potentially end this cycle at $170,000.&nbsp; 
 You might also like: <a href="https://crypto.news/bitcoin-outpaces-usd-since-inception" rel=""> Bitcoin has outpaced USD nearly every year since its inception </a> 
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 “Bitcoin is a cyclical product, It goes through pulls and drags. Typically, it moves 4x within 18 months of the halving. But let’s be a bit conservative on the price, it’s still $170,000 for this cycle.” <cite>– Anthony Scaramucci, Founder of SkyBridge Capital</cite>
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Scaramucci also discussed <a href="https://crypto.news/sam-bankman-fried-sentenced-25-years-ftx/" rel="">Sam Bankman-Fried’s</a> recent sentencing. The venture capital unit of Bankman-Fried’s FTX acquired a 30% stake in SkyBridge back in September 2022. 
FTX went bankrupt that November. 
Scaramucci expressed sadness for Bankman-Fried, given his potential and his mental condition. However, he thought the 25-year sentence was light. 
He also emphasized that Bankman-Fried should have pled guilty before the trial.&nbsp; 
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 ““He hurt my business, my reputation and lied to a lot of people. But when you really look at him clinically, he looks like a very damaged guy. Also, People will get their money back, but it has been dollarized. Bitcoin’s value has increased a lot since then, so people are upset about it as well.” <cite>– Anthony Scaramucci, Founder of SkyBridge Capital</cite>
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 Read more: <a href="https://crypto.news/jury-finds-terraform-labs-do-kwon-guilty-on-fraud-charges/" rel=""> Jury finds Terraform Labs, Do Kwon guilty on fraud charges </a>

Scaramucci expects Bitcoin to reach $170k, moving 4x ‘within 18 months of halving’

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