EXCLUSIVE: Anthony Scaramucci Says Bitcoin Could Hit $150K To $250K On BTC ETF Launch

The founder of SkyBridge Capital, Anthony Scaramucci, is known for many things, including his entrepreneurial endeavors, investment acumen, and a brief stint at the White House.

In recent years, investors have come to learn that Scaramucci is a big believer in the future of digital assets, specifically Bitcoin (CRYPTO: BTC).

Investing in Bitcoin: Leading cryptocurrency Bitcoin could be a hedge against higher inflation and a national debt that has to be monetized, Scaramucci told Benzinga.

“I think those things will have value over time,” he said of Bitcoin and digital assets during a recent appearance on “The Raz Report.

Scaramucci said, unlike other assets, you can’t inflate away the value of Bitcoin given its fixed supply. The investor said Bitcoin might be the only asset on the planet with higher demand that can’t have the supply increased.

“ [If] you have higher demand for gold, we’ll build more mines. Bitcoin has a finite supply.”

Scaramucci told Benzinga that he has a couple of hundred million dollars invested in the cryptocurrency space, including holding Bitcoin on the SkyBridge and his own personal balance sheet.

The investor also partnered with FirstTrust to launch the FirstTrust SkyBridge Crypto Industry and Digital Economy ETF (NYSE: CRPT) in 2021.

The ETF “has publicly traded companies that are linked to digital assets,” Scaramucci said.

A look at the top holdings shows the following five companies:

MicroStrategy Inc (NYSE: MSTR): 23.9%

Coinbase Global (NASDAQ: COIN): 21.2%

Riot Platforms (NASDAQ: RIOT): 9.2%

Marathon Digital Holdings (NASDAQ: MARA): 8.4%

Galaxy Digital Holdings (OTC: BRPHF): 7.4%

Related Link: Trump's Former Communication Director Casts Doubt On FTX's Revival 

What’s Next: Like other Bitcoin investors, Scaramucci is optimistic about the cryptocurrency's potential price surge, a sentiment that could be bolstered by future Bitcoin ETFs.

Scaramucci said that nobody knows where the price of Bitcoin is heading, but a look at SPDR Gold Trust (NYSE: GLD) ETF could illustrate what inflows into Bitcoin ETFs could do. Scaramucci highlighted that when investments poured into the gold ETF, gold's price rose. He suggests that as financial institutions venture into Bitcoin through ETFs, a similar trend might occur.

If Bitcoin ETFs do $100 billion in allocation to Bitcoin, the price of the cryptocurrency could go to $150,000 or $250,000, Scaramucci added.

“I believe it could.”

Scaramucci mentioned many stocks that have gone up by 10x or more in the past and added that Bitcoin going to $150,000 to $250,000 is only a five to eight-bagger. “If I’m right, we could be sitting at $150k, $250k Bitcoin.”

Catch the full episode of Anthony Scaramucci on The Raz Report Friday at 11 a.m. ET. 

Read Next: Exclusive: Mark Yusko On Bitcoin's Future, 2024 Price Target 

Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event - Future of Digital Assets. Tickets are flying- get yours!

Photo: Shutterstock

Get insight into trading platforms. Compare the best online stock brokerages.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.