SkyBridge's Scaramucci optimistic about Bitcoin hitting $170,000, sees it as hedge against inflation.

From Investing.com: 2024-04-06 11:36:44

Anthony Scaramucci from SkyBridge Capital remains optimistic about Bitcoin despite recent price volatility due to a broader crypto market selloff and the launch of spot Bitcoin ETFs. He believes that Bitcoin still has room to grow and could reach half the market valuation of gold. Scaramucci sees Bitcoin as a hedge against inflation and currency devaluation, positioning it as a major digital store of value with significant potential for growth. He also mentioned other cryptocurrencies like Solana and Avalanche as part of his firm’s investment strategy, emphasizing Bitcoin’s role as the dominant asset in the crypto space. Despite challenges like regulatory scrutiny and legal issues, SkyBridge Capital remains interested in the crypto market, viewing recent delays in spot Bitcoin ETF approval as beneficial for the overall health of the ecosystem.

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