Hold onto your hats, crypto lovers! Anthony Scaramucci, the big boss at SkyBridge Capital, is predicting that Bitcoin will skyrocket to $100,000 by the end of the year. And he's not just making wild guesses; he's got some solid reasons behind his forecast.
In a recent chat with Bloomberg, Scaramucci pointed to two big factors that could send Bitcoin to the moon: interest rate cuts and clearer crypto regulations after the November elections in the U.S.
“We're going to see some pro-crypto, Bitcoin, and stablecoin legislation early in the next congressional term. Plus, the Federal Reserve's rate cuts will come into play,” he said.
The Federal Reserve is set to announce its decision on interest rates today, and word on the street is that they might cut them by half a point. This would make borrowing cheaper and could be a big win for asset prices both in the U.S. and around the globe. Scaramucci is all for it, saying it would be “really good for asset prices.”
Scaramucci is also hoping for some crypto-friendly laws after the U.S. presidential election. He envisions a bipartisan effort to regulate the digital asset market, with both Republicans and Democrats on board.
In the political arena, Republican candidate Donald Trump is all in for crypto, promising to boost assets like Bitcoin if he wins. This has earned him a thumbs-up from the crypto community. On the flip side, Democratic nominee Kamala Harris has been less vocal about crypto, but some insiders believe she could also support favorable crypto regulations if she gets elected.
Scaramucci is confident that good things are coming for crypto under a Harris administration, based on his talks with her team.
It's worth noting that Scaramucci has been pretty consistent with his $100,000 Bitcoin prediction. And while Bitcoin has had a bit of a roller-coaster ride lately, peaking above $73,700 in March and then dipping, the experts are optimistic about its performance in October.
As of now, Bitcoin is trading at $60,200, up 2.67% in the last 24 hours. So, keep your eyes peeled and your wallets ready—exciting times could be just around the corner!
