Bitcoin Forecasted to Reach $100K by Year-End, Boosted by FTX Payouts

Anthony Scaramucci, SkyBridge Capital's founder, expressed optimism about Bitcoin's future, predicting significant new highs within six months.

During a recent CNBC interview, Scaramucci suggested Bitcoin could reach six figures soon after correcting to the $50,000 range. He attributed the current correction to various factors, including the resolution of issues like Mt. Gox’s settlement with creditors and the German government’s crypto sales.

Scaramucci reaffirmed his bullish stance on Bitcoin’s long-term fundamentals, projecting it could reach $100,000 by year-end and potentially $170,000 post-halving.

He highlighted the impending release of approximately $16 billion to former FTX account holders as a potential catalyst for Bitcoin, anticipating that a substantial portion might flow back into the cryptocurrency.

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Additionally, Scaramucci cautioned the Democratic Party about the electoral implications of their cautious stance on digital assets, suggesting that embracing cryptocurrencies could sway single-issue voters in key swing states during the upcoming US presidential election.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.