• Anthony Scaramucci of Skybridge Capital is becoming increasingly bullish on bitcoin as it recently hit $30K.
• He believes that this rise is due to increased attention from mainstream media, as well as the increasing availability of wallets.
• However, fraud and over-leverage has caused some issues for the legitimacy of crypto, but he still thinks Bitcoin will end the year in either $40-50K range.
Anthony Scaramucci’s Positive Outlook On BTC
Anthony Scaramucci of Skybridge Capital recently expressed his positive outlook on Bitcoin, citing its recent surge past $30K as evidence that it is healing from the damage caused by 2020. He believes this rally is a result of more attention from mainstream media and the wider availability of wallets.
Fraudulent Activity A Problem
Unfortunately, with greater access to wallets comes an increase in fraudulent activity which has hurt Bitcoin’s reputation and legitimacy. Scaramucci attributes this issue to technology advances that have made it easier for these types of schemes to take place. He also points to SEC head Gary Gensler’s anti-crypto stance potentially being related to crypto companies like FTX, Celsius and Block Fi collapsing in America.
Still Optimistic Despite Challenges
Despite these challenges, Scaramucci remains optimistic about Bitcoin’s future and believes that by the end of 2023 it will be trading at between $40-50K per coin. He sees Bitcoin as an „incredibly sturdy“ and “anti-fragile asset class” despite other high profile individuals such as Charlie Munger and Jamie Dimon trying to bring down its reputation.
Halving Events Affecting Cycles
Scaramucci also highlighted how halving events have affected Bitcoin cycles with them rising then crashing shortly after each event occurs; something which he expects will happen again when another halving takes place next year in 2024.
Conclusion
Overall Anthony Scaramucci remains bullish on Bitcoin despite some challenges facing its legitimacy due to fraudulent activity caused by new technology advances making bee swarm schemes easier than ever before . While Jamie Dimon and Charlie Munger may be criticising cryptocurrencies , Scaramucci still thinks they are a safe investment with potential for growth in the next few years .