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Anthony Scaramucci stated that the price of Bitcoin could explode to $180,000 as "supreme power" rises.
The founder and CEO of SkyBridge Capital, Anthony Scaramucci, stated that Bitcoin (BTC) seems to be preparing for a strong growth spurt as its price hovers around its all-time high.
"Well, every time I make a price prediction, I often get it wrong. However, I mentioned last year that I believe we could approach the $100,000 mark. While we didn't hit that number until after President Trump took office, I believe this price will reach between $150,000 and $180,000 by the end of the year."
According to Scaramucci, the demand for Bitcoin from institutional investors is on the rise.
"The dominant position of Bitcoin is gradually being established, and I believe this trend will continue, as it is the primary asset for institutional investors. This does not mean that other coins will not perform well. However, I predict that about 80% of the capital from institutional investors will flow into Bitcoin."
However, Scaramucci also pointed out that Bitcoin is currently facing many challenges amid strong demand.
"There are many factors holding back Bitcoin. We are witnessing conflicts in the Gulf, Ukraine, and in the former Soviet region, specifically Russia. The global tension is rising, along with concerns about economic recession. We are still recovering from the economic impacts of the COVID pandemic. All these factors are affecting Bitcoin."
However, despite these challenges, the net purchases of Bitcoin, especially through ETF funds, remain very strong.
Mr. Teacher