This article has been republished with permission from Binance News.
According to The Block: Anthony Scaramucci, founder and managing partner at SkyBridge Capital, believes Bitcoin could see its market cap surge to an astounding $15 trillion, implying a roughly 2,662% increase from its current market capitalization of about $543 billion.
This prediction, shared on the OPTO – Invest in Innovation podcast, paints Bitcoin as “in many ways more valuable than gold”. Scaramucci cited this as one of the reasons why SkyBridge Capital holds a substantial Bitcoin portfolio.
Despite Scaramucci’s bullish bias, he does not believe in Bitcoin becoming the universal standard of money, at least in his lifetime. However, he does see potential scenarios where nations resistant to the U.S., may resort to Bitcoin or other gold-backed assets for trade.
He expressed concerns over the current state of the global financial system, calling it “broken”, though he believes it can be mended with the right leadership and long-term planning.
Amidst optimism for Bitcoin, Scaramucci also shared disappointment over Sam Bankman-Fried, the founder of the now-defunct FTX exchange. Scaramucci’s firm had bought a 30% stake in SkyBridge before FTX filed for bankruptcy. Bankman-Fried is facing a criminal trial, and Scaramucci foresees a conviction, as Bankman-Fried’s former colleagues have pleaded guilty.
Scaramucci’s estimation suggests a potential Bitcoin price of over $700,000, acknowledging its capped supply of 21 million coins. As of now, the price of Bitcoin rounds up to approximately $27,860.