It’s been revealed the fact that Anthony Scaramucci predicted that there is a huge amount of money incoming to the BTC market cap. Check out the latest reports about this below.
Huge market cap comes to BTC
Anthony Scaramucci, the founder and CEO of SkyBridge Capital, recently shared his bullish outlook on Bitcoin’s future market capitalization in an interview with CNBC.
According to Scaramucci, the total market cap of Bitcoin could potentially increase by over 13 times from its current level.
He believes that mainstream investors may enter the market after the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). If this happens, BTC’s total market cap stands to potentially equal that of Bitcoin.
“So if there’s a sell on the news [after a spot Bitcoin ETF approval] though, I’ll be surprised because there feels like there’s several billion dollars of market demand.
And remember those 12 [spot Bitcoin ETF] issuers want this to get off to a strong start. And I do think they have pent-up demand…
We entered the space in 2020, we like it long-term. We think Bitcoin could eventually be the same or up there with the market capitalization of gold. That may take a decade, but it’s very very promising.
And the fact that the SEC is going to allow this in brokerage accounts, I think this is meaningful… Now that Wall Street’s involved, they will sell this product to their best investors.”
The World Gold Council estimates that the total amount of gold mined throughout history is about 209,000 tonnes, which is worth approximately $12 trillion.
Currently, Bitcoin’s market capitalization is nearly $893 million. The CEO of SkyBridge Capital believes that Bitcoin could also gain from the Federal Reserve’s plans to ease its monetary policy.
“I think more liquidity in the markets is better for Bitcoin. The people who are studying Bitcoin and doing the work on Bitcoin recognize it as a digital store of assets. They see it as a digital form of gold. And so if there’s laxity in the interest rates cycle, that means there will be more liquidity. And I think that will be better for Bitcoin. It will find its way into more model portfolios.”
