Skybridge Capital Founder Says Bitcoin Will Easily Trade at $500,000” – Urges Investors to Buy Immediately –

The founder of Skybridge Capital says Bitcoin is "easily trading at $500,000 a year," noting that investors should buy now even at the current price. "I'm trying to do my best to explain to them why they need to own this right now," he said, emphasizing that we are still "very, very early."

'These Coins Easily Traded at $500,000 Coin'

Anthony Scaramucci, founder and managing partner of New York City-based investment firm Skybridge Capital, weighed in on the US economy, inflation and Bitcoin on Friday. Scaramucci briefly served as White House communications director during the Trump administration in July 2017.

He was asked if he advises people to buy Bitcoin at the current price of around $64,000. Scaramucci promptly replied: “No question.”

At the current one BTC Price levels, he said: "I still think we're very, very early." He noted that if Ark Invest CEO Cathie Wood is right and there are "a billion wallets by the end of 2024 to mid-2025," he expects:

These coins are easily traded to $500,000 coin. Remember, you don't even have enough Bitcoin for every millionaire in our society to earn one coin.

In September, wood doubled on their $500,000 Bitcoin price prediction. “If we are right and companies continue to diversify their money into Bitcoins, institutional investors will begin to invest 5% of their funds in… Bitcoin or other cryptocurrencies,” she said, “today… over $500,000.”

“JPMorgan said there are 49 million millionaires based on the fiat currency, the US dollar,” Scaramucci added. "You don't even have enough [for each millionaire]. So for me this is a very rare property."

He further explained this amid rising inflation fears: "I tell people to own a little bit of Bitcoin because it gives you an adaptive technology that's evolving. And the second thing it gives you is a potential inflation hedge." He continued:

This is very, very early for people. And I try to do my best to explain to them why they need to own this right now.

What do you think of Scaramucci's advice? Let us know in the comments section below.

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