BlockQuarry Corporation
08/16/2022 | Press release | Distributed by Public on 08/16/2022 12:58
SkyBridge Capital Founder Says BTC Could Hit $300k, Very Bullish on Crypto
SkyBridge Capital Founder Says BTC Could Hit $300k, Very Bullish on Crypto
On August 12, Anthony Scaramucci, founder of SkyBridge Capital and former White House Director of Communications, appeared on CNBC's "Squawk Box" and spoke with Melissa Lee.
He offered his thoughts on the economy, inflation and, of course, Bitcoin and other cryptocurrencies.
He said, "You're getting better-than-expected inflation data… I was just looking at the fourth quarter [of] 2019 - GDP numbers, the inflation and unemployment numbers...
"And if you just stop and think about it, we hit pause, the pandemic created this havoc, we inducted a lot of money into the system that caused some inflation, and obviously you had the supply chain disruption…
"But you could very well get back to that fourth quarter of 2019, which was a very strong economy, low unemployment, and benign inflation - that's probably six to 12 months away, and I think the market's starting to realize that. The crypto market, obviously, it is our belief that most of the leverage is completely out of that system...
"If you're out of the market for the ten best days, you've reduced your return from a 7.5% return to a 2% return. I don't want us to start herking and jerking the portfolio based on emotion. Again, we're up 45% since we last spoke…
We did nothing but hold the positions and stick to our discipline. I think that's the message I'm trying to send to investors… I tell people, 'Just relax. See through this'…
We see a pretty optimistic scenario for Bitcoin, Ethereum, Solana and Algorand over the next 12 to 24 months."
Scaramucci believes BTC could hit $300,000 within the next six years. That would be a 1,150% increase from its current levels.
Read Scaramucci's full comments, and previous comments regarding Bitcoin, HERE