Anthony Scaramucci says Bitcoin's soaring price has only just begun amid the ETF boom

anthony scaramuccifounder of Skybridge Capital, predicted a promising trajectory Bitcoin (Crypto:BTC), its growth potential can be attributed to increasing demand and decreasing supply.

In an interview with CNBC over the weekend, Scaramucci emphasized the important role Bitcoin spot exchange traded funds (ETFs) play in overcoming regulatory barriers and ushering in new capital investment in cryptocurrencies.

According to Scaramucci, Wall Street's involvement has made Bitcoin a high-demand asset, especially as the upcoming halving event will reduce daily new coin issuance.

He highlighted Bitcoin's unique supply and demand dynamics, comparing the rapid inflows into Bitcoin ETFs, which exceeded $10 billion in the first quarter, and the slowing pace of gold ETF GLDs to the same milestone.

“When Wall Street gets a product like this, it's like a vending machine and it creates a lot of demand for that product. I think we're all surprised by the influx of more than $10 billion in new money. It took GLD, the gold ETF, a year to reach $10 billion. It was successful 25% of the time.” Scaramucci told CNBC.

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While the Bitcoin network plans to reduce daily coin production from 900 to 450 coins around April 20th, with base demand estimated at 2,000 to 3,000 coins daily, Scaramucci said the market has already seen the adoption of ETFs. refuted the idea that the impact of Bitcoin was factored in. Reduce by half.

“Not to bore you, but Bitcoin, the network, spits out 900 coins a day. It will probably be cut in half around April 20th, down to 450 coins. Probably 2,000 to 3,000. “You're going to have a lot of coins. At a time when the supply is going to go down, the basic demand is going to go down,” he said.

He strongly believes that Bitcoin's value “still has a lot of room to grow.”

“They said before that the ETF was priced in, but now they claim the halving is priced in. I don't believe that either. Bitcoin still has a lot of room to grow here. I think there is,” he said.

At the time of this writing, Bitcoin is trading at $69,866.66, up almost 3% in the past 24 hours.

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