📰 Table Of Contents
SkyBridge Capital Founder’s Warning on Bitcoin
SkyBridge Capital founder Anthony Scaramucci recently stated that war or terrorist attacks could potentially lead to a 10% to 15% decline in Bitcoin’s value over the next year. In a CNBC interview, Scaramucci highlighted Bitcoin’s current stage of adoption and the need for a larger user base to achieve its potential as an inflation hedge or store of value.
Bitcoin’s Volatility Amidst Geopolitical Tensions
Bitcoin experienced a drop below $60,000 following reports of an Israeli missile strike on Iran. During times of geopolitical uncertainty, investors often seek safer assets such as gold and government bonds for protection.
Scaramucci’s Positive Outlook on Bitcoin
Despite short-term fluctuations, Scaramucci remains optimistic about Bitcoin’s long-term prospects. He pointed to factors such as the recent Spot ETF launch, increased institutional interest, and the upcoming halving event as potential drivers for Bitcoin’s value to reach $200,000.
Addressing Concerns About Centralization
Scaramucci dismissed concerns about excessive centralization in Bitcoin due to ETFs, noting that institutional ownership, including major players like BlackRock, represents a small portion of the market. He believes that Bitcoin’s decentralized nature will prevail.
Scaramucci’s Revised Bitcoin Price Prediction
Scaramucci’s latest price prediction for Bitcoin surpasses his previous forecast. He now anticipates Bitcoin could surge to $170,000 by mid-to-late 2025, taking into account the impact of the halving event on the cryptocurrency’s supply dynamics.
The Bitcoin Halving Event
The Bitcoin network undergoes a halving event every few years, reducing the rate of new Bitcoin issuance. This mechanism aims to maintain the scarcity of Bitcoin, with the total supply capped at 21 million coins.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
