Anthony Scaramucci, founder of SkyBridge Capital, says Bitcoin (BTC) has the potential to rise further from current levels due to strong demand and declining supply.
In a new CNBC interview, the hedge fund veteran says the approval of a Bitcoin spot exchange-traded fund (ETF) clears regulatory hurdles for BTC, allowing a new pool of capital to be allocated to the crypto tycoon. Stated.
Scaramucci also said he expects major cryptocurrencies to soar to higher prices as Wall Street gobbles up thousands of BTC per day as Bitcoin prepares to cut new issuance by nearly half with the halving. He also said that there are.
“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 surprised that it crossed $100 million… It took GLD, the gold ETF, a year to hit $10 billion, which it did 25% of the time.
I don't want to bore you, but Bitcoin (the network) spits out 900 coins a day. It will probably be cut in half around April 20th to 450 coins. He probably has 2,000-3,000 coins in base demand when supply is about to go down.
They used to say ETFs were priced in, now they're starting to say halving is priced in, and I don't believe that either. I think there is still a lot that Bitcoin can do. ”
As of this writing, Bitcoin is trading at $69,320, up nearly 2% over the past day.
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