Skybridge Capital CEO Predicts Bitcoin Value to Match Half of Gold’s Market Cap

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In the rapidly evolving world of cryptocurrencies, the projected value of Bitcoin is a heated topic of discussion. With a myriad of predictions pouring in from different sectors, one sentiment appears to resonate among the masses: Bitcoin’s value is set to skyrocket in comparison to its current standing. This viewpoint is echoed by Anthony Scaramucci, the CEO of Skybridge Capital, who predicts Bitcoin’s market capitalization could eventually match up to half of that of the gold market.

Renowned for his bullish stance on Bitcoin, Scaramucci has persistently championed the leading cryptocurrency, regularly sharing his support and favorable expectations for its future. Recounting his stance recently, the Skybridge Capital mastermind reiterated his belief in Bitcoin’s potential.

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Speaking candidly in an interview with CNBC, Scaramucci made an eyebrow-raising prediction, estimating that Bitcoin’s value could reach an astonishing $170,000. But he didn’t stop there, as he further forecasted that Bitcoin’s market cap might someday accrue 50% of gold’s current market valuation.

Scaramucci explains that this rosy forecast owes itself to the burgeoning clarity surrounding Bitcoin’s regulations, underpinned by the triumphant launch of various Spot Bitcoin ETFs. In his view, the success of these ETFs bears the promise of Bitcoin reaching a level that’s half of gold’s valuation.

Drawing a comparison, Scaramucci elucidates that it took Gold’s ETF a full year to amass $10 billion in inflows. In stark contrast, Bitcoin accomplished this feat in a mere span of three months, which is a quarter of the time taken by Gold. Additionally, with the halving on the horizon, Scaramucci foresees Bitcoin’s supply shrinking even further, accelerating its ascent.

Scaramucci elaborates on his view, envisioning Bitcoin as a store of value, which he believes, will galvanize its standing as a formidable contender against gold. In his projection, Bitcoin’s unbroken growth will eventually culminate in a market cap on par with half of gold’s.

Pondering on Bitcoin’s future trade value, the current gold market cap of a whopping $15.7 trillion indicates that Bitcoin could rise to a jaw-dropping $7.85 trillion, with half of gold’s market cap. Considering the current Bitcoin market cap stands at $1.4 trillion and a coin price of $72,000, this valuation points toward a meteoric rise in the cryptocurrency.

Factoring in Bitcoin’s cap of 21 million coins, a market cap of $7.85 trillion would catapult Bitcoin’s price to a staggering $378,000 per coin. This phenomenal leap would denote a 500% rise from its current price. Moreover, assuming that Bitcoin retains about half of the total cryptocurrency market cap, and altcoins continue on their growth trajectory, the entire cryptocurrency market could potentially amass a total cap of $14 trillion, underlining its increasing threat to gold.

Despite his bullish outlook, Scaramucci was careful not to give a definite timeline. His words of advice to investors were clear: it’s crucial to not expect this to happen immediately. Recognizing the erratic nature of the cryptocurrency market, he warned, “It’s not going to happen overnight, and there will be a lot of volatility.” Scaramucci’s wisdom included a prudent reminder, one that is surely important in a fast-paced, unpredictable market as the one for Bitcoin.