Anthony Scaramucci, founder of SkyBridge Capital, maintained a bullish stance on Bitcoin during an appearance at the Wyoming Blockchain Symposium. He projected a year-end price range for Bitcoin between $180,000 and $200,000, despite recent market fluctuations. 💰
Scaramucci highlighted institutional investors’ increasing involvement in the cryptocurrency market. He noted their influence on current market dynamics, observing significant consolidations and ownership shifts resulting from these investments. He attributed this to increased demand exceeding supply, fueled by Bitcoin’s limited daily production of only 450 units.
His remarks on stablecoins also drew attention. Scaramucci expressed optimism regarding Wyoming’s stablecoin project, believing it would bolster US dollar demand and offer an alternative to traditional intermediaries like credit cards in payment systems.
However, he voiced concerns about central bank digital currencies (CBDCs), expressing apprehensions over their potential for intrusiveness and privacy infringement.
*Disclaimer: This is not investment advice.*