A former White House communications chief has said that bitcoin could reach the $100,000 mark next year as more investors and companies are adopting the crypto.
Anthony Scaramucci, who founded the $9.2 billion investment company SkyBridge Capital, said the most sought-after digital currency could “easily trade” at $100,000 per coin in the next 12 months, according to Forbes and CryptoSlate.
Scaramucci made headlines at the start of 2021 when he announced Skybridge had launched its own Bitcoin Fund, calling the crypto still “in its early innings,” Forbes said. The fund had $25 million as starting capital.
On course to $100 million
Bitcoin registered a record valuation of $48,482.55 earlier this week after Tesla announced it purchased $1.5 billion worth of bitcoin and that it is considering to start accepting the crypto as a form of payment in the near future.
The crypto has skyrocketed in value by a whopping 1,200% since the middle of March 2020. It notched its highest daily close at $47,997 on Coinbase on Thursday.
In an interview with Yahoo Finance last week, Scaramucci — who briefly served under former U.S. President Donald Trump as White House director for communications — said he would advise investors to move their extra money to bitcoin.
Bitcoin, he pointed out, has a very promising future and the SkyBridge Bitcoin Fund is “heading towards $100 million” in assets under management (AUM).
1 billion in 5 years?
The digital asset, Scaramucci said, has boosted his fund-of-funds’ performance since the depths of the global health crisis.
However, he also noted that bitcoin is still a volatile asset that can be prone to unpredictable price swings.
SkyBridge moved several hundred million dollars into the crypto across its product line last October. SkyBridge currently has half a billion dollars worth of bitcoin in its portfolio, and Scaramucci is optimistic that “a billion people will be using bitcoin in five years,” he said in remarks quoted by Forbes.
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