Cash News
Anthony ScaramucciCEO of investment firm SkyBridge Capital, predicted that Bitcoin BTC/USD will hit $150,000-$200,000 as the total number of wallets of the leading cryptocurrency approaches one billion.
What happened: In an interview with Schwab Network aired Wednesday, the pro-cryptocurrency industrialist noted that Bitcoin is a digital store of value and its market capitalization ideally should trade close to gold, its supposed real-world counterpart, which at the time of writing was valued at $17 trillion.
“There’s a lot of upside ahead for Bitcoin,” Scaramucci remarked.
Scaramucci blamed regulatory hurdles and the policy of “regulation by enforcement” as the major factors slowing down Bitcoin’s growth. He stated that the spot Bitcoin ETFs were delayed for a year.
Having said that, he seemed optimistic about what lay ahead. “I do believe as we get to a billion wallets, Bitcoin goes to $150- $200,000 a coin.”
According to estimates of Buy Bitcoin worldwide, there are 200 million Bitcoin wallets at the moment.
See Also: El Salvador President Nayib Bukele Says Bitcoin Uptake Hasn’t Been A ‘Resounding Success’ — ‘We Have Never Forced Anyone To Adopt It’
Why It Matters: Scaramucci’s bullish forecast was consistent with his projections last month when he expected the apex cryptocurrency to reach $100,000.
Scaramucci, who served as the White House Communications Director for a brief 11-day stint during Trump’s presidency before being booted out, has lent support to Democratic candidate Kamala Harris’ campaign.
He was part of the virtual town hall interaction organized by the “Crypto for Harris” advocacy group last month, wherein he reiterated support for bipartisan cryptocurrency legislation.
Though Scaramucci has been a vocal critic of former President Donald Trump, he admitted that the Republican presidential candidate was better for the cryptocurrency industry in general.
Price Action: At the time of writing, Bitcoin was exchanging hands at $57,170.86 up 1.53% in the last 24 hours, according to data from Benzinga Pro.
Read Next:
Photo courtesy: Unsplash
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.