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Anthony Scaramucci, who founded Skybridge Capital, has a long-term view of the Bitcoin price based on solid fundamentals. If he’s right, the BTC price could shatter even some of the most bullish of predictions.
Scaramucci told CNBC Bitcoin could “easily trade at $500,000 a coin,” pointing to the number of high-net-worth individuals vs. the finite supply of the cryptocurrency to go around. He cited JPMorgan data, saying there are fewer than 50 million millionaires based on USD fiat currency. Meanwhile, the supply of BTC is capped at 21 million coins. Scaramucci said,
“You don’t even have enough Bitcoins for every millionaire in our society to own one coin.”
In other trending Bitcoin News today: MicroStrategy CEO Michael Saylor Says Bitcoin Is ‘Going Up Forever’ – Here’s Why!
“My point is that [there’s] never going to be more than 21 million Bitcoin, so it’s a very fixed supply. It’s the only scarcity that anybody can invest in in the world.
Bitcoin is the dominant digital monetary network, and because it’s dominant and because it’s fixed, it means that it’s the most reliable, highest-integrity, scarcest thing in the financial universe… Bitcoin is going up forever.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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