Bitcoin could “easily” reach $ 100,000 over the next 24 months, driven by technological development and macroeconomic improvements, says Anthony Scaramucci
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Sales in bitcoin and ethereum are buying opportunities, Anthony Scaramucci said on Monday.
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He still sees bitcoin going up to $ 100,000 over the next 12-24 months.
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A better macroeconomic picture will be a factor in helping cryptocurrencies recover, he said.
Bitcoin’s beatdown is a buy-in option before the cryptocurrency makes a sustained turnaround to advance to $ 100,000 over the next 12-14 months, SkyBridge Capital CEO Anthony Scaramucci told CNBC on Monday.
He appeared as bitcoin during Monday’s session, falling 15% to $ 22,829.66 and falling below $ 23,000 for the first time since December 2020 as part of a larger sale in the cryptocurrency market. The market value on Monday fell below $ 1 trillion for the first time since early 2021.
“[With] incremental cash coming into our funds, we have bought more bitcoin and ethereum. We have a private stake in FTX. FTX is doing very well, it is gaining market share and is a profitable company, “he said, referring to the cryptocurrency exchange run by 30-year-old cryptocurrency billionaire Sam Bankman-Fried.
“So, yes, I mean, when the truth is, people will look back on this [market] debacle and say, ‘I wish I had new money to buy into it.’ Can it put down anything more? Certainly, “he said.
Bitcoin has fallen around 50% during 2022 and ether, the symbol of the ethereum blockchain, has lost about 67% this year, including Monday’s fall of 17%. Cryptocurrencies this year have largely taken the lead from equities that have been put down by concerns about higher interest rates, with the Federal Reserve responding to decades of high inflation.
It is “impossible” to project the declines for bitcoin and ethereum, Scaramucci said. “But if you were at [CoinDesk’s conference] Consensus last week in Austin, and you saw all the robust developments going on in Web3 and you see the money being distributed, I think the upside is huge, “he said.” I still think bitcoin can easily reach $ 100,000 per coin over the next 12 to 24 months, but you need to find out where the markets are. “
Scaramucci remembered that investment banks shelved their cryptocurrency ideas in 2018. “Today they do derivatives trading and things like ethereum. I do not think there is any way back. A lot of good information out there, a lot of positives when it comes to basic conditions.. Only the price action. is terrible right now. “
In the meantime, investors can see that inflation data will improve by the end of 2022 as the covid pandemic subsides and as the supply chain becomes more interconnected, he said. US consumer price inflation in May rose to a new 41-year high of 8.6%.
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