Former White House Staff Says Bitcoin Will Hit $100,000 in Coming Years.
Despite the underperformance of Bitcoin in recent times, Anthony Scaramucci, the founder and partner of SkyBridge Capital, believes the cryptocurrency will hit six figures soon. According to Scaramucci, who served as the White House director of Communications under former President Donald Trump, the world’s largest cryptocurrency by market capitalization will hit $100,000 in the next two years.
Furthermore, Scaramucci predicts that if Bitcoin hits $100,000 in the next two years, the asset class could continue the sensational rally to move past $500,000 in the future, as many people would want to adopt it as an inflation hedge.
Not only did Scaramucci predict the price of Bitcoin in the coming years, the popular American financier also disclosed that there will be a rise in BTC adoption.
“I think bitcoin will have 100 million-plus wallets and it could be an inflation hedge but that’s a good five to eight years away,” the SkyBridge founder said.
Scaramucci is confident over his prediction for the asset class while adding that it would be a major mistake for anyone not to hold BTC or be under-invested in the cryptocurrency.
Bitcoin’s Outstanding Performance
For many crypto pundits, Bitcoin will definitely hit the price level predicted by Scaramucci because of the previous performance of the asset that saw it reach an all-time high of over $69,000 in November.
Bitcoin is thought to be in its nascent stages, with many traditional investors still trying to come to terms with its potential, especially its use as a hedge against inflation.
Despite being over a decade old, Bitcoin has grown in popularity among retail, institutional, and retail investors.
Global regulators have acknowledged the disruptive nature of Bitcoin and are considering providing clearer regulation for the industry.
Earlier this week, the United States made a significant approach to regulating Bitcoin, as the Biden administration published an executive order for digital currencies.
El Salvador President Eyes $100,000 BTC Price
While several nations are still considering the proper measures to regulate Bitcoin, El Salvador earlier took a bold step by adopting the most popular cryptocurrency as a legal tender.
Earlier this year, Nayib Bukele, the president of El Salvador also made a prediction that Bitcoin could rise as high as $100,000 by year end.
Meanwhile, Bitcoin is far from reaching that feat at the time of writing. Per data on Coingecko, Bitcoin is currently trading around $37,000, down 44% from its ATH of $69,044.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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