According to Anthony Scaramucci of SkyBridge Capital, Bitcoin could reach $100,000 by the conclusion of 2024, as a result of potential pro-crypto legislation and rate reductions
Anthony Scaramucci, the founder and hedge fund manager of SkyBridge Capital, anticipates that Bitcoin will surpass $100,000 by the conclusion of 2024.
This prediction is influenced by potential pro-crypto legislation and interest-rate reductions in the United States.
Scaramucci emphasized in an interview with Bloomberg that the value of Bitcoin could experience a substantial increase due to the bipartisan support for crypto and stablecoin legislation in the upcoming U.S. congressional term and the forthcoming Federal Reserve rate cuts.
“We are going to get pro-cryptocurrency, Bitcoin, and stablecoin legislation in the first part of the next congressional term in the U.S. At the same time, you are intersecting with rate cuts from the Federal Reserve.” – Anthony Scaramucci
Scaramucci, who served as Donald Trump’s communications director, observed that the Republican nominee has recently adopted a pro-crypto stance in an effort to secure votes in a tight contest against Vice President Kamala Harris, whose stance on crypto is less well-defined.
Scaramucci indicated optimism regarding the regulatory landscape under a potential Harris administration, despite the ambiguity, referencing positive discussions with her campaign team.
The CEO of SkyBridge Capital anticipates that the Federal Reserve will reduce borrowing costs by half a percentage point, with the potential for up to 150 basis points of reductions over the next 18 months.
He is of the opinion that such actions will be advantageous for asset prices worldwide, including Bitcoin, which has already increased by 5% in anticipation of the Federal Reserve’s policy decision.
