SkyBridge Capital founder Anthony Scaramucci said that macroeconomic factors will benefit Bitcoin and allow BTC to rise in the coming months. In an interview with MarketWatch, Scaramucci added that historical inflation rates in the US will be “much better” in a year.
The hedge fund veteran also thinks that the current geopolitical tensions between Russia and Ukraine will have limited impact on the global economy in the long run, citing Western sanctions on Russia.
“I predict these wars won’t last that long because of the pain experienced in society with this kind of economic breakdown…
It’s one thing to impose light sanctions from time to time, but the West is basically destroying the infrastructure and wealth around Vladimir Putin and his inner circle. This is a huge step forward for Western democracies.”
Scaramucci is of the view that even if the war continues, its impact will likely make progress “less devastating.”
“This may be a lasting Afghanistan situation for Russia, but once the free market system adapts, it will not create supply shocks.”
As inflation and geopolitical tensions subside, SkyBridge Capital executive predicts that Bitcoin will benefit from these developments. According to Scaramucci, BTC attracts investors because of its growth potential.
“I see Bitcoin in its current state as an early adopter technological asset… I think Bitcoin will be used as a legal currency over time, not just by El Salvador but by other countries as well.”
Finally, according to Scaramucci, the increase in adoption rates could cause Bitcoin to soar to $100,000 in the next 12 to 18 months.
“Not investing or under-investing in this cryptocurrency could be a serious mistake.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.