Anthony Scaramucci, the founder of SkyBridge Capital, is optimistic about the future of Bitcoin. In a recent interview with CNBC, Scaramucci predicted that Bitcoin could reach $170,000 within the next 18 months. This bold prediction comes as Bitcoin ETFs have seen over $10 billion in cumulative inflow in just three months, outpacing Gold ETFs.

Scaramucci highlighted the weakening of the USD, which has lost nearly 22% of its value since January 2020, while Bitcoin has increased by over 800% during the same period. Despite extreme volatility, Bitcoin has proven to be a profitable long-term investment, according to Scaramucci.

Scaramucci sees Bitcoin not just as a short-term inflation hedge, but as a long-term asset with significant growth potential. He believes that Bitcoin could potentially reach at least half the valuation of the gold market and could end this cycle at $170,000.

Scaramucci also discussed the recent sentencing of Sam Bankman-Fried, the founder of FTX. FTX had acquired a 30% stake in SkyBridge back in September 2022, before going bankrupt in November. Scaramucci expressed sympathy for Bankman-Fried’s situation and believed that the 25-year sentence was light.

While acknowledging the impact of the bankruptcy on his business, Scaramucci emphasized the importance of accountability and honesty in such situations. Despite the challenges faced, Scaramucci remains optimistic about the future of Bitcoin and its potential for growth.

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