Bitcoin will reach $175,000 after halving, says former White House director

For Anthony ScaramucciAccording to former White House communications director, Bitcoin will reach $175,000 after halving. He then noted that his forecast is conservative, explaining how BTC could reach $240.00 in this cycle.

The halving, scheduled for mid-April, is an event that will cut miners’ rewards by half, reducing Bitcoin inflation. However, Scaramucci’s forecast is medium-term and it could take up to eighteen months for the market to complete this cycle.

Scaramucci is even more confident about the long term, noting that Bitcoin is still very small compared to its main rival, gold. Currently, the market value of gold is still 16 times that of Bitcoin.

Bitcoin will reach $170,000, says Anthony Scaramucci, who says he is conservative

Anthony Scaramucci, founder of SkyBridge Capital, is no longer a strange name in the cryptocurrency sector. As recently as 2020, his fund invested R$130 million in Bitcoin. Since then, the director has become one of BTC’s biggest bulls, even claiming that buying Bitcoin now was like buying Amazon stock in the year 2000.

During a conversation on Scott Melker’s channel last Wednesday (24), Scaramucci revealed his next goals. The story of it is the halving, which has always served as a catapult to increase the price of Bitcoin.

“You mentioned my $170,000 prediction, so I want to talk to you about that.”Scaramucci said. “This is a data-driven prediction, go back and look at Bitcoin’s halving cycles. Regarding the halving day, Bitcoin multiplied its value by 4 18 months later.”

‘So I use [o preço base de] $35,000 for the [próximo halving], and that is conservative. Let’s say we’re at $50,000 in April [a previsão] would be $200,000. $60,000 would be 240,000.”

Previous halving cycles show that Bitcoin performed very well in subsequent months.  Source: StockmoneyLizards/Reproduction.Previous halving cycles show that Bitcoin performed very well in subsequent months.  Source: StockmoneyLizards/Reproduction.
Previous halving cycles show that Bitcoin performed very well in subsequent months. Source: StockmoneyLizards/Reproduction.

Regarding the long term, Scaramucci points out that Bitcoin could easily reach half the market value of gold, currently at $13.5 trillion. In other words, BTC could increase in value 10 times, to over $400,000 per unit.

Bitcoin ETFs were the best launches in the history of ETFs, says Scaramucci

The conversation between Anthony Scaramucci and Scott Melker lasted about half an hour, but there was enough time for the two to talk about ETFs and also about Larry Fink, the founder of BlackRock who hated Bitcoin.

“These 11 ETFs Were the Best ETF Launches in ETF History”said Scaramucci, noting that the market is under pressure from Grayscale’s sales, but will soon return to normal. “You have a lot of demand for Bitcoin, finally institutional demand for Bitcoin.”

“They are careful and slow, but when they get there it will be overwhelming.”the director continued, talking about managers selling new products.

Scaramucci also recalled meeting with Larry Fink in 2021. At the time, BlackRock’s CEO stated that Bitcoin was a meaningless asset, but that he had invested in some companies in the sector, such as Circle. I told him to study more, Scaramucci recalled, believing he had been heard.

“There’s a guy named Robbie Mitchnick at BlackRock, a young guy, he came to BlackRock with the idea of ​​creating a Bitcoin ETF”Scaramucci said. “He gave Larry the ‘orange pill’ [Fink].”

“I have to give Larry credit because he did his homework. He understood exactly what [o Bitcoin] era and because it will be an international money reserve.”

Even before BlackRock’s Bitcoin ETF launched, Larry Fink surprised the market by defending the cryptocurrency. In other words, he really changed his mind about the property he previously hated.

“It takes a very smart leader to proudly say Bitcoin is bad and then 24 months later say it was wrong and BlackRock should be part of that,” Scaramucci concluded about Fink.

You can watch the full conversation between Scaramucci and Melker in its entirety below.

Source: Live Coins