Bitcoin peaked at $126,198. It is now at $74,631. Anthony Scaramucci bought at $15. He is still buying, and he has a specific date for when things turn around.
Scaramucci, founder and managing partner of SkyBridge Capital, has been one of Wall Street’s most visible Bitcoin advocates through the entire drawdown. In a recent SoFi interview, he laid out why the current correction has not changed his thesis, and when he expects it to end.
Scaramucci frames the current drop as entirely normal. Bitcoin peaked above $126,000 in October 2025, driven by regulatory optimism around the CLARITY Act and the GENIUS Act. When that legislation stalled, over-leveraged positions unwound, whales sold, and Bitcoin fell nearly 50% from its high.
“This isn’t the kind of drawdown that’s a warning sign. It’s the price of admission,” he has said.
He has been through ten bear markets in 38 years of investing and he is not selling.
Also Read: Is Bitcoin’s Bear Market Over? Two Analyses, Two Very Different Answers
His thesis is built around Bitcoin’s four-year halving cycle. Supply halved roughly two years ago – from 900 coins per day to 450. Historically, cycles run a period of appreciation, then a 30 to 50% correction at the midpoint, then recovery.
“By the fourth quarter of this year, you’ll start to see movement in activity appreciation….consistent with how a traditional Bitcoiner would think about it,” he said. His current price target is $150,000.
Long term, he believes Bitcoin can reach the market capitalisation of gold, roughly $30 trillion, over 10 to 15 years. That would represent approximately a 20x return from current levels.
His most distinctive argument is generational. Older money still flows to gold when fear hits – proven when gold surged while Bitcoin fell during geopolitical uncertainty in 2025. But Scaramucci argues people currently in their early 30s will be running asset management firms in a decade.
“They’ll see Bitcoin as a digital store of value, easier to move around than gold, lot more transferability, but sort of the same properties and…scarcity of it” he said.
That shift is structural and it does not depend on a single catalyst.
Do the homework first. Start with a 1 to 2% allocation. Hold for at least four to five years.
“If 100 people do 100 hours of research, 90 to 95 of those people will end up buying Bitcoin,” he said.
The homework, he says, comes before everything else. Conviction cannot be borrowed.
Read More: Is Bitcoin Undervalued Right Now? On-Chain Data Has a Clear Answer
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