Scaramucci just made some prophetic comments regarding Bitcoin- that it will reach $200,000 by 2025. In a recent interview with the Wall Street Journal, Scaramucci declared, “This has the possibility of even doubling from here, aided by a wave of new crypto-friendly policies in America.”
Optimism for Bitcoin’s Growth
Scaramucci started to laugh at being bearish. He weighed the value of trades available in apt trading positions for the currency. Now, with Bitcoin trading at $106,859, having risen 9.5 percent in 24 hours. Last week saw Bitcoin hit another peak of $107,822, and it still keeps accelerating. Scaramucci believes that the best is yet to come. They are early in the game in the belief that one already missed the boat, according to such people.
The US Crypto Policies
A major source of Scaramucci’s belief is the expected flurry of crypto-friendly policies in the United States. He said during a recent address at the Evident AI Symposium: “Those regulatory hurdles, including the SEC, have suppressed the price of Bitcoin.”
Scaramucci slammed the agency for its use of carrot-and-stick methods while delaying any approval of spot Bitcoin ETFs until recently under the garb of Gensler’s non-acceptance for arbitrary and capricious regulation. The effects of the actions were such that it delayed growth in Bitcoin’s value in the market, he argued.
Spot Bitcoin ETFs: A Turning Point?
The eventual greenlighting of spot Bitcoin ETFs was a watershed moment for the crypto industry, despite objections from two anti-crypto commissioners. Scaramucci argued that had these ETFs been approved earlier, Bitcoin’s price might have already reached levels expected for January 2022. The approval, although delayed, has brought renewed hope for investors and could play a pivotal role in Bitcoin’s path to $200,000.
Leadership Change at the SEC
The recent news of former SEC Commissioner Paul Atkins taking over as SEC Chair has also fueled optimism. Atkins is expected to adopt a more crypto-friendly stance, potentially creating a more favorable environment for the digital asset industry.
Looking Ahead
While Scaramucci’s prediction of $200,000 may seem ambitious, he remains steadfast in his belief that Bitcoin’s potential as a store of value is only beginning to be realized. His earlier forecast that Bitcoin could serve as a global store of value by 2026 aligns with this bullish outlook.
Investors and enthusiasts are now looking to regulatory clarity and market developments to see whether Scaramucci’s vision for Bitcoin’s meteoric rise will materialize. With a mix of policy shifts and market momentum, the next few years could be transformative for cryptocurrency.
