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Renowned investor Anthony Scaramucci has weighed in on the future of Bitcoin, calling it the “best-performing asset in the world.” In a recent interview on Wealthion, Scaramucci shared his insights on Bitcoin’s price trajectory following the recent halving event. He emphasized the significant demand for Bitcoin driven by institutional investors and highlighted its potential for long-term growth.
Scaramuccia’s Views on Bitcoin
During his appearance on Wealthion, Scaramucci highlights the remarkable demand for Bitcoin, particularly from investors buying into ETFs like BlackRock and Kathy Wood’s funds. Despite the network producing only 450 coins per day, this demand continues to push prices higher.
Scaramucci further noted that while prices typically decline after halving events, they often rebound as short-term holders sell for profits and new investors enter the market.
Scaramucci repeats his strategy of holding Bitcoin long-term, regardless of short-term price fluctuations. He pointed to Bitcoin’s strong performance over the past 14 years as evidence of its enduring value. According to Scaramucci, Bitcoin has proven to be the best-performing asset worldwide, making it a valuable addition to any investment portfolio.
Scaramucci Advises People
While acknowledging Bitcoin’s volatility, Scaramucci encouraged people to invest in Bitcoin and become part of the revolution. He advised starting with a small investment to understand Bitcoin’s technical properties and experience the excitement of being involved in cryptocurrency.
Scaramucci emphasized the importance of viewing Bitcoin as more than just a lottery ticket and instead as a revolutionary asset with long-term potential.
Scaramucci Bitcoin Price Prediction
Scaramucci expressed optimism about Bitcoin’s future price, predicting a potential surge to $6-8 million from the current level. However, he noted that Bitcoin is currently not a strong inflation hedge or fully established store of value due to its relatively low global adoption.
Scaramucci expects significant changes to occur once Bitcoin attracts at least a billion users, a milestone he anticipates around 2026.
As of now, the price of Bitcoin stands at $63,839.87, reflecting a slight decrease of 1.6% over the past 24 hours. Despite this dip, the trading volume remains robust at $30.4 billion, with a market cap of 1.25 trillion.