In a bold reaffirmation of his bullish stance on Bitcoin, Anthony Scaramucci, the founder and CEO of SkyBridge Capital, has maintained his year-end price target for the leading cryptocurrency at an impressive range of $180,000 to $200,000. This statement was made during a recent interview with CNBC, amidst ongoing market fluctuations and a notable pullback in cryptocurrency prices.
Scaramucci’s insights come as the cryptocurrency market experiences what he describes as significant consolidation and institutional adoption. He noted that the landscape has shifted dramatically over the past three years, with institutional investors playing a more prominent role in the market. “If you went to a conference like this three years ago, it was mostly retail investors and CEOs working in the layer one blockchain space. Today it’s lots more institutional investors,” he remarked during his appearance at the Wyoming Blockchain Symposium.
Despite the current market corrections, including some larger investors liquidating portions of their holdings, Scaramucci remains optimistic about Bitcoin’s future. He emphasizes that the demand for Bitcoin continues to outpace its available supply, reinforcing his belief in the cryptocurrency’s long-term potential. “We still maintain our price target between $180,000 and $200,000 by year-end, and I think it’s a cautious price target,” he stated.
As of today, with 134 days remaining in 2025, Bitcoin would need to surge approximately 58% to reach the lower limit of Scaramucci’s price target, and around 76% to achieve the upper boundary. For context, Bitcoin has only increased by 21% year-to-date as it sits amidst a corrective phase, recently trading at $113,455.37 after a slight decline of 0.68% in the past 24 hours, according to data from Benzinga Pro.
Scaramucci’s optimistic outlook aligns with his previous assertions regarding Bitcoin’s status as a legitimate asset class, comparable to gold. He has previously suggested that Bitcoin could be recognized widely once it reaches the $500,000 mark. He attributes Bitcoin’s price movements to its limited supply and the growing interest from investors seeking a hedge against the volatility of U.S. fiscal policy. Notably, he has disclosed that a staggering 70% of his personal wealth is invested in Bitcoin, reflecting his strong conviction in its potential.
As Bitcoin navigates through this corrective phase, market participants and investors are closely monitoring the dynamics of supply and demand, as well as institutional interest, which Scaramucci believes will play a crucial role in determining the cryptocurrency’s trajectory towards the end of the year.
“I think what’s happening now is lots of consolidation and institutional adoption,” Scaramucci emphasized.
For those interested in engaging with the cryptocurrency market, platforms like Plus500 offer opportunities for risk-free paper trading with crypto futures, allowing investors to speculate on price movements without immediate financial commitment.
In summary, Scaramucci’s confidence in Bitcoin’s future price trajectory remains unwavering, even amidst market corrections, making his insights essential for investors looking to navigate the complexities of the cryptocurrency landscape in 2025.
Source: Benzinga – Benzinga.com
