Anthony Scaramucci: “Bitcoin could crash by 40 percent”
- After a weak weekend, the Bitcoin price is reclaiming the $109,000 mark. However, according to Anthony Scaramucci, founder of SkyBridge Capital, BTC investors should expect continued high volatility in the coming months and years.
- In an interview with Coinage, the Wall Street veteran initially expressed a bullish view: “I expect Bitcoin to probably reach a value of $500,000 in the next five or six years.”
- But crypto investors shouldn't assume calm waters. “Could there be a 40 percent correction by then? Absolutely. So you have to be prepared for that,” Scaramucci cautions.
- The hedge fund manager has been an enthusiastic Bitcoin advocate for years. In January, he published “The Little Book of Bitcoin: What You Need to Know that Wall Street Has Already Figured Out,” a book about the cryptocurrency for newcomers.
- In his estimation, Bitcoin will still be in the early stages of adoption in 2025. However, underestimating BTC's potential is the most serious mistake an investor can make today.
- According to Scaramucci, those who believe in Bitcoin's long-term success should not be discouraged by short-term fluctuations: “If you have a great asset—and I believe Bitcoin is a great asset—then hold on to it.”
- He himself has owned shares of Apple, Amazon, Microsoft, and Nvidia during his 37-year Wall Street career, selling them far too early in each case. Investors should learn from these bad decisions instead of repeating them with BTC.
- Strategy founder Michael Saylor helped co-author Scaramucci's Bitcoin book. Find out why he recently made an even more ambitious BTC price prediction in this article: “This is how high the Bitcoin price will rise by 2045.”
Recommended Video The True Story: Why This NBA Superstar Is Going into Crypto
source
- Scaramucci I Coinage Interview
