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Anthony Scaramucci, founder and managing partner of SkyBridge Capital, has expressed strong optimism about Bitcoin’s future, particularly in the wake of the upcoming halving event expected in April 2024. 
Scaramucci, a prominent figure in the cryptocurrency space, shared his views in a recent interview with CNBC. He pointed to historical trends following halving events, which reduce the number of new Bitcoins entering circulation, as a reason for his bullish outlook. 
Scaramucci predicts <a href="https://www.coingecko.com/" rel="nofollow noopener" target="_blank">BTC price</a> to reach at least $170,000 by the end of the current cycle, which aligns with past price surges after halvings. His long-term vision is even more ambitious, with a target of $400,000 – a price point that would represent half the market capitalization of gold. 
He said: 
<blockquote>
 “Bitcoin is a cyclical product… 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.” 
</blockquote> 
<h2 data-sourcepos="7:1-7:32" id="strong-bitcoin-adoption-on-the-rise-strong">Bitcoin Adoption On The Rise</h2> 
Scaramucci sees the rapid growth of Bitcoin exchange-traded funds (ETFs) as a strong indicator of increasing institutional adoption. He highlights the fact that Bitcoin ETFs surpassed $10 billion in cumulative inflow within just three months, a feat that took Gold ETFs a year to achieve. This suggests a growing appetite for the digital asset among major financial institutions, which could further fuel demand and price appreciation. 
<blockquote class="twitter-tweet" data-media-max-width="560"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#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" rel="nofollow noopener" target="_blank">@Scaramucci</a> discusses why he thinks Bitcoin is back: <a href="https://t.co/HJxQEy6XY0" rel="nofollow" target="_blank">pic.twitter.com/HJxQEy6XY0</a> 
 — CNBC’s Closing Bell (@CNBCClosingBell) <a href="https://twitter.com/CNBCClosingBell/status/1776346772828234177?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 5, 2024</a>
</blockquote> 
<h2 data-sourcepos="11:1-11:39" id="strong-bitcoin-a-long-term-store-of-value-strong">Bitcoin: A Long-Term Store Of Value</h2> 
He emphasizes Bitcoin’s potential as a long-term store of value, surpassing its role as a simple hedge against inflation. The leading cryptocurrency’s finite supply – capped at 21 million coins – combined with its growing adoption, suggests scarcity and potential for significant value growth. 
He acknowledges that its volatility is a significant factor to consider, yet he maintains a firm belief that seasoned investors, with a strategic long-term outlook, can successfully navigate through short-term market fluctuations. He perceives Bitcoin’s enduring trajectory as a promising opportunity for investors to capitalize on, leveraging its potential for sustained growth and value appreciation over time. 
<img loading="lazy" decoding="async" class="aligncenter size-full" src="https://www.tradingview.com/x/dmakf7gS/" width="2475" height="1163"> Scaramucci On Sam Bankman-Fried 
The interview also touched upon the recent sentencing of Sam Bankman-Fried, former CEO of the <a href="https://www.economist.com/finance-and-economics/2024/04/04/will-ftxs-customers-be-repaid" target="_blank" rel="noopener nofollow">collapsed FTX exchange.</a> Scaramucci, whose company SkyBridge received a 30% stake acquisition from FTX prior to its bankruptcy, expressed mixed emotions. 
Related Reading: <a href="https://bitcoinist.com/uniswap-hits-2-trillion-trading-volume/" target="_blank" rel="noopener ">Forget Wall Street, Uniswap Is The New Trading King With $2 Trillion Crown</a> 
He acknowledged the damage caused by FTX’s collapse but also expressed empathy for Bankman-Fried’s mental state. 
Featured image from Pexels, chart from TradingView

Hold On Tight! Skybridge Chief Sees Bitcoin Skyrocketing To $170,000 In 18 Months

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