Anthony Scaramucci Predicts BTC’s All-Time High by 2024 End Following SEC Approval of Bitcoin ETFs

Anthony Scaramucci Predicts BTC’s All-Time High by 2024 End Following SEC Approval of Bitcoin ETFs

Anthony Scaramucci, the founder and CEO of SkyBridge Capital, a prominent alternative asset management firm, has made a bold prediction about the future of Bitcoin (BTC). He anticipates that BTC will reach its all-time high before 2024 concludes. Scaramucci’s prediction comes on the heels of the United States Securities and Exchange Commission’s (SEC) recent approval of spot Bitcoin exchange-traded funds (ETFs), which has set the stage for retail investors to gain access to the leading digital asset.

The SEC’s decision to approve 11 spot Bitcoin ETFs for listing and trading on major exchanges such as Nasdaq, the New York Stock Exchange (NYSE), and the Chicago Board Options Exchange (CBOE) marks a significant milestone for the cryptocurrency industry. This long-awaited approval not only allows retail investors to invest in BTC but also serves as an alternative to the existing financial system, thereby further accelerating the adoption of cryptocurrencies.

Scaramucci, much like the wider crypto community, views the SEC’s decision as a watershed moment for Bitcoin. He opined that this event is not only a “really big breakthrough for Bitcoin as a digital asset” but also has broader implications for digital property in general. The CEO expressed his confidence in BTC’s price performance, stating, “I think Bitcoin will probably see its all-time high before the end of the year and will likely go through its all-time high by this time next year.”

Bitcoin’s journey has been marked by significant price swings. The cryptocurrency achieved its current all-time high in November 2021 during the last bull market. However, the subsequent bear season in 2022 caused a massive collapse in its price, along with that of other cryptocurrencies and blockchain projects. Nevertheless, fueled by excitement surrounding the SEC’s approval of spot Bitcoin ETFs and other upcoming events like the fourth Bitcoin halving, BTC’s price experienced a remarkable 150% increase in 2023.

Scaramucci acknowledges that 2022 was a challenging year for SkyBridge Capital, but highlights that 2023 turned out to be the best year for the firm. The company strategically purchased BTC, Ether (ETH), and Solana (SOL) during this period, leading to significant growth. Scaramucci views the SEC’s endorsement of BTC in a peculiar manner as the agency has allowed investors to include the crypto asset in their brokerage accounts.

When asked whether he would personally invest in the newly approved ETFs, Scaramucci firmly indicated his affirmative stance. He emphasized that he would be a ceremonial buyer of the Bitcoin ETFs, showcasing his confidence in the potential of this investment opportunity.

Anthony Scaramucci’s optimistic prediction about Bitcoin’s all-time high before the end of 2024 aligns with the SEC’s approval of spot Bitcoin ETFs and the ongoing surge in crypto adoption. As BTC continues its rollercoaster ride, the endorsement from regulatory bodies and influential figures like Scaramucci underscores the growing mainstream acceptance of cryptocurrencies as legitimate investment assets.

Crypto

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