Will Bitcoin Hit $176K? Anthony Scaramucci Lays Out His High-Stakes Forecast

Christian Encila

11 months ago

3 mins read

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A top executive of a New York-based global investment firm made an audacious claim that Bitcoin breaching the six-figure price will happen very soon.

SkyBridge Capital founder Anthony Scaramucci said that in the next two years, BTC will be traded at $176,000, joining other crypto investors who believed that the oldest cryptocurrency is ripe for a six-figure price per coin.

Bitcoin To Rally Threefold

Scaramucci hailed the alpha crypto asset for sustaining a price surge in only a short period, adding that it sees the digital asset to further surge in the next two years.

Scaramucci’s statement was timely as BTC today regained its momentum and once again hit the $70,000 level after the crypto scared many investors as the digital asset slid further down to $68,000 yesterday.

According to Scaramucci, he has an ambitious prediction on Bitcoin, saying that by mid-2026, the cryptocurrency will be traded at $176,000. In the previous days, several notable crypto personalities shared the same vision with Scaramucci of the likelihood that BTC will hit the six-figure mark. One of which even predicted a price of $220,000.

SkyBridge’s Scaramucci says US will solve debt crisis, bitcoin to triple by 2026 https://t.co/aKYDI6vW2N pic.twitter.com/1BQCdomKHy

— Reuters (@Reuters) October 30, 2024

The SkyBridge founder explained that the cryptocurrency could experience a threefold rise in its price in 18 to 20 months, saying that the rally is highly plausible because there is a growing demand for the coin, but the supply is fixed which is the right ingredients for an exponential price uptick.

BTC is currently trading at $69,155. Chart: TradingView

A Kamala Harris Supporter

Scaramucci is among the few known crypto investors who announced their support for the presidential candidacy of current US Vice President Kamala Harris.

Scaramucci disclosed in previous interviews that Harris would be endorsing Bitcoin once she got elected to the White House.

The SkyBridge managing partner has been working closely with the camp of the Vice President to craft policies that will allow cryptocurrency to thrive under her administration.

He added that there had been development in Harris’ crypto agenda which he plans to reveal soon.

BTC-Gold Connection

In a separate interview, Scaramucci supported the relationship between gold and Bitcoin, saying that BTC is comparable to gold as an asset.

The SkyBridge founder described the firstborn virtual coin as the digital gold of the cryptocurrency world. He noted that other leading financial experts, including BlackRock CEO Larry Fink, also believe in the Bitcoin-gold comparison, predicting that BTC would reach half of the gold’s market cap.

He suggested that it would take Bitcoin about 10 years to attain such a milestone which would greatly benefit its investors since they would get a tenfold return on their BTC investments.

At the time of writing, gold is being traded at $2,754 per ounce, a new all-time high, and boasts a market cap of $18.494 trillion.

Featured image from DALL-E, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.