SkyBridge CEO Predicts Massive Bitcoin Growth
Anthony Scaramucci, the founder and CEO of SkyBridge Capital, anticipates a substantial surge in Bitcoin's (BTC) total market capitalization, projecting a potential increase of over 13 times its current level.
In a recent interview with CNBC, Scaramucci suggests that the entry of mainstream investors, especially following the approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC), could bring BTC’s market cap on par with that of gold.
While acknowledging the possibility of a sell-off after a spot Bitcoin ETF approval, Scaramucci expresses surprise, emphasizing the significant market demand, potentially amounting to several billion dollars.
Having entered the cryptocurrency space in 2020, SkyBridge Capital holds a positive long-term view on Bitcoin, envisioning its market capitalization reaching or surpassing that of gold, albeit over a decade. Scaramucci underlines the promising outlook, particularly with the SEC’s approval enabling brokerage accounts to engage with Bitcoin. With Wall Street’s involvement, he expects the financial industry to actively promote the cryptocurrency to its top-tier investors.
READ MORE: Edward Snowden Condemns SEC’s Bitcoin ETF Mishap
Comparatively, Scaramucci draws attention to the World Gold Council’s estimation that the historical cumulative gold mined amounts to about 209,000 tonnes, valued at approximately $12 trillion, whereas Bitcoin’s current market cap stands at nearly $893 million.
Additionally, Scaramucci suggests that Bitcoin could benefit from the Federal Reserve’s plans to ease monetary policy. He sees increased market liquidity as advantageous for Bitcoin, as it is recognized by those studying it as a digital store of assets, akin to a digital form of gold. Anticipating positive effects on Bitcoin from a more lenient interest rate cycle, he envisions it gaining traction in various model portfolios as more liquidity becomes available in the markets.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
