SkyBridge Capital founder and managing partner Anthony Scaramucci shared his insights on the cryptocurrency markets during an appearance on CNBC’s Squawk Box.
Scaramucci reiterated their year-end price target for Bitcoin at $150,000.
He pointed out that historically, September has been a weak period for crypto markets, emphasizing that price fluctuations are part of the norm. “While there is a possibility of Bitcoin dropping below $100,000, there is also potential for a rapid surge to $150,000. The long-term demand remains robust,” he remarked.
Highlighting the increasing interest in Bitcoin ETFs and the establishment of digital asset treasuries by major corporations as key factors providing sustained support to the market, Scaramucci suggested that this cycle could unfold differently from previous years.
The discussion also delved into Scaramucci’s recent appointment as senior advisor at AVAX One, a company dedicated to bolstering the Avalanche ecosystem. He emphasized AVAX’s distinction in tokenization projects compared to industry giants like BlackRock and Visa, portraying Avalanche as the versatile “Swiss Army knife” among layer-1 technologies.
*This content does not constitute investment advice.