Anthony Scaramucci, founder and CEO of SkyBridge Capital. Bitcoin He explained that he believes that ‘s total market value could increase more than 13 times from the current level.
Scaramucci thinks in a new CNBC interview that the total market cap of BTC will potentially equal that of BTC with the influx of mainstream investors following the approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC).
While Scaramucci stated that he would be surprised if there was a sale with the ETF approval, he expects a billion-dollar inflow with the demand in the market.
…We entered this space in 2020, we love it for the long term. We think Bitcoin could eventually reach a value equal to or higher than the market value of gold. This may take ten years, but it is very promising.
NEWS CONTINUES BELOWI think it makes sense that the SEC will allow this in brokerage accounts… Now that Wall Street is involved, they will sell this product to their best investors.
The World Gold Council estimates that the amount of yellow metal mined throughout history is approximately 209,000 tonnes, worth around $12 trillion. Bitcoin’s market cap currently stands at approximately $893 million.
SkyBridge Capital CEO also noted that Bitcoin could also benefit from the Federal Reserve’s plans to ease monetary policy.