Anthony Scaramucci says Bitcoinโs rally is fueled by institutional adoption and supply crunch, keeping $180Kโ$200K year-end target.
He backs Bitcoin ETFs, direct buys, and equities as valid paths, while also highlighting stablecoinsโ role in payments and dollar strength.
Bitcoin is currently trading near $113,000, and according to SkyBridge Capital founder Anthony Scaramucci, the rally has entered a new phase dominated by institutional adoption. In an interview with CNBC, SkyBridge Capital founder Anthony Scaramucci has opened up about the growing role of traditional finance in crypto markets and predicted further upside for Bitcoin by the end of the year.
Supply crunch supports higher targets
The SkyBridge chief remains confident in Bitcoinโs fundamentals. With only 450 new bitcoins mined daily, demand continues to far outweigh supply. His firm has kept its year-end price target in the $180,000 to $200,000 range, which he described as a more realistic prediction compared to even more aggressive projections from other market participants.
โWe have seen cycles of pain and euphoria, but the math is clear,โ Scaramucci explained. โThere is simply not enough new issuance to meet growing demand.โ
Bitcoin investment paths expanding
Asked about the choice between buying Bitcoin directly, ETFs, or exposure through companies such as MicroStrategy, Scaramucci described all avenues as valid but differentiated. Institutions restricted from holding Bitcoin directly often choose ETFs or Bitcoin-linked equities, while purists and long-term holders still prefer direct ownership.
Even banks like JPMorgan now lend against Bitcoin, underscoring its growing credibility as collateral. SkyBridge itself continues to hold substantial amounts of Bitcoin in custody.
Stablecoins and future of payments
Scaramucci also addressed the expanding stablecoin market, including the state of Wyomingโs announcement of its own dollar-backed token. He views the growth of stablecoins as supportive of the US dollar and Treasury markets, while also fostering new payment rails that could bypass costly intermediaries like credit card companies.
At past SkyBridge events, attendees tested stablecoin-based payments in Bermuda, with instant settlement proving both efficient and user-friendly. He expects further consolidation in the sector, with private companies driving innovation rather than a government-issued central bank digital currency.
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FAQs
Short-term drops come from profit-taking, regulation news, or market sentiment.
Analysts expect wide ranges, with bullish targets above $200,000.
Forecasts suggest $500,000+ as adoption and scarcity increase.
Some long-term models predict Bitcoin could exceed $1 million.
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