Skybridge Capital Founder Says Bitcoin ‘Will Easily Trade At $ 500,000’ – Urges Investors To Buy Now – Bitcoin News

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The founder of Skybridge Capital said bitcoin “will easily trade at $ 500,000 a coin,” noting that investors should buy it now, even at the current price. “I’m trying to do my best to explain to them why they have to have this right now,” he said, pointing out that we are still “very, very early”.

“These coins will easily trade at $ 500,000 a coin”

Anthony Scaramucci, founder and managing partner of New York-based investment firm Skybridge Capital, commented on the U.S. economy, inflation and bitcoin on Friday. Scaramucci briefly served as White House communications director under the Trump administration in July 2017.

He was asked if he advises people to buy bitcoin at the current price of around $ 64,000. Scaramucci quickly responded, “no question about that.”

At the current BTC price level, he said, “I still think we’re very, very early.” He noted that if Ark Invest CEO Cathie Wood is correct and there are “a billion portfolios from the end of 2024 to mid-2025,” he expects:

These coins will easily trade at $ 500,000 a coin. Remember, you don’t even have enough bitcoin for every millionaire in our society to earn one.

In September, Wood doubled his bitcoin price prediction by $ 500,000. “If we’re right and companies continue to diversify their cash flow into something like bitcoin, institutional investors start allocating 5% of their funds into… bitcoin or other crypto,” she said, “We think that the price will be ten times what it is… is today… over $ 500,000.

“JPMorgan said there are 49 million millionaires based on US dollar fiat currency,” Scaramucci added. “You don’t even have enough [for each millionaire]. So for me I think this is a very rare property.

He further explained that given the growing fears of inflation, “I tell people to own some bitcoin because it gives you adaptive technology that evolves. And the second thing it offers you is potential inflation hedge. He continued:

It’s very, very early for people. And I try to do my best to explain to them why they need to own this now.

What do you think of Scaramucci’s advice? Let us know in the comments section below.

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