Anthony Scaramucci, founding father of SkyBridge Capital, expressed optimism that demand for Bitcoin (BTC) will proceed to extend within the coming years.
In a brand new interview on the Bitcoin Investor Day convention in New York Metropolis, Scaramucci mentioned the huge $84 trillion wealth switch from child boomers to the youthful era could have a bullish impression on Bitcoin.
The Wall Road veteran factors out that right now’s 25-year-old traders already personal “a variety of Bitcoin” whereas their older counterparts personal solely “a bit of bit” of Bitcoin, suggesting that demand for the main digital asset will improve within the coming years. Whereas new traders are racing to take over the king of cryptocurrencies.
“So, within the subsequent 10 years, I see it as an enormous snake the place Bitcoin might be absorbed into the snake. There might be an enormous spike in demand for Bitcoin, and that may occur over the subsequent decade.”
Scaramucci says it is doable that BTC may attain the $1 million mark, contemplating that gold’s market cap is about $14.5 trillion.
“Michael Novogratz or Cathie Wooden, they see a million-dollar bitcoin. 1,000,000-dollar bitcoin is a $21 trillion market, and gold is $14 to $15 trillion.
They recommend that Bitcoin commerce at 150% of the overall market capitalization of gold. Suppose they’re mistaken. As an instance it is buying and selling at its market cap or half of what they’re saying, and that is nonetheless throughout the vary of what I take into account digital gold.”
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