Updated 15 Sep, 2021

SkyBridge Capital CEO Sees Bitcoin at $100K by End of 2021

SkyBridge Capital CEO Sees Bitcoin at $100K in 2021

Key Takeaways:

  • SkyBridge’s Anthony Scaramucci says bitcoin’s price could reach $100,000 in 2021
  • Scaramucci launched a bitcoin-focused investment fund earlier in the year

SkyBridge’s Scaramucci Says Bitcoin Could Climb to $100,000 by Year End

Anthony Scaramucci, former White House Director of Communications and the founder and CEO of alternative investment firm SkyBridge, recently stated he projected bitcoin’s price could land at a six-digit figure of $100,000 by the end of the year.

In an interview with Peter McCormack for the “What Bitcoin Did” podcast, Mr. Scaramucci praised the original digital currency and its properties, including the limited supply of tokens.

“I like the scarcity feature: no one knows who invented it,” the SkyBridge CEO said, adding “that was a smart decision by the inventors of it, but they’ve only got 21 million coins out there, and so that scarcity provides people with this anti-dilutive quality, and it’s also, as you know, about human minds — when something is scarce, people want it.”

Bitcoin vs Gold

Mr. Scaramucci also addressed the looming bitcoin vs gold debate, saying the token’s market capitalization could climb above $250,000 and still fail to reach even half of gold market’s valuation.

“It could glide to $280,000 a coin, have a $5 trillion dollar market value, and still only be half of all of the gold that’s been mined in our global society, and I think it’s got a long way to go here.”

He also highlighted the growing institutional support could fuel bitcoin’s price to never-before-seen milestones. “You have this historic opportunity now to get in before the institutions do. Institutions are coming. Could this be a $100,000 per coin at the end of 12-31 2021? I believe it could be,” he commented.

A Bitcoin Fund to Provide Exposure to the Biggest Cryptocurrency

Anthony Scaramucci’s SkyBridge fund announced earlier in the year the launch of a bitcoin-focused investment fund, SkyBridge Bitcoin Fund LP. The fund, launched with an initial investment of $25.3 million, aims to provide individual and institutional investors with the opportunity to gain exposure to bitcoin.

The price prediction of $100,000 by the end of 2021 matches the forecast of Adam Back, CEO of Blockstream and one of the first people to work with Bitcoin since its creation.

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