In a recent interview with CNBC, Anthony Scaramucci, the founder of Skybridge Capital and a prominent figure in the crypto investment space, expressed optimism about the future trajectory of Bitcoin (BTC), foreseeing the digital currency surpassing its all-time high (ATH) of $69,000 within the next year.
BTC To Surpass it’s ATH
Scaramucci’s bullish comments on Bitcoin’s future performance emerged in discussions about the potential approval of a Bitcoin exchange-traded fund (ETF) and its potential impact on the broader cryptocurrency market.
During the interview, Scaramucci confidently stated that Bitcoin would eventually exceed its previous ATH, emphasizing the surprising speed of its recent ascent.
Acknowledging the recent volatility and challenges within the crypto industry, Scaramucci highlighted that its rapid rise took aback those who didn’t closely follow Bitcoin.
Drawing on his involvement in Bitcoin since 2020, Scaramucci emphasized the market’s 14 to 15-year developmental journey, underscoring the importance of a broader perspective in assessing BTC’s performance.
Learning from Past Shortfalls
Acknowledging past predictions that fell short, including a projection for Bitcoin to reach $100,000 by the end of 2022, Scaramucci openly discussed his occasional embarrassment over past forecasts. Despite these historical missteps, he maintained an optimistic stance on Bitcoin’s future.
“I’ve been embarrassed by my predictions in the past. I would’ve thought [BTC] would’ve gotten to a hundred thousand by the end of 2022.”
A Cautious Approach
Addressing the timing of Bitcoin’s potential new ATH, Scaramucci exercised caution, refraining from providing a specific timeline. He highlighted the influence of short-term market dynamics, such as the “buy the rumor, sell the news” phenomenon, and other factors that could shape Bitcoin’s near-term trends.
Delving into Skybridge Capital’s crypto portfolio, Scaramucci disclosed that approximately one-third of the firm’s business involves cryptocurrencies. While maintaining diverse holdings, including Ethereum and various tokens, Scaramucci underscored Bitcoin’s supremacy, referring to it as the “big boss” among his investments.
Currently valued at $42,471, Bitcoin experienced a 4% decline in the last 24 hours.