SkyBridge Capital founder Anthony Scaramucci says macroeconomic factors will become more flexible for Bitcoin, allowing BTC to hit six figures in the coming months.
In an interview with MarketWatch, Scaramucci says historic US inflation rates “are going to improve a lot” a year from now.
The hedge fund veteran also says the current geopolitical tensions between Russia and Ukraine will have limited impact on the global economy in the long run, citing the flurry of sanctions against Russia from the West.
“I predict that these wars will not last as long because of the pain that is inflicted on a society with this kind of economic stalemate…
It’s one thing to impose some light sanctions here and there, but the West is basically dismantling the infrastructure and wealth around Vladimir Putin and his inner circle. This is a big step that Western democracies are taking.”
Scaramucci says that even if the war continues, its effect will likely end up being “less disruptive” in the future.
“This could be a situation from Afghanistan to Russia, where it goes on forever, but it won’t create supply shocks once the free market system adjusts.”
As inflation and geopolitical tensions cool, the head of SkyBridge Capital says Bitcoin should benefit.
According to Scaramucci, BTC is attracting investors due to its growth potential. He predicts that over a billion wallets will contain Bitcoin by the end of 2025.
“I see Bitcoin in its current state as an early adopter technology asset… I think Bitcoin will be used by many Latin American countries as legal tender over time, not just El Salvador but other countries…
When it gets to [a billion portfolios], I think, as a mature asset, we could talk about whether or not it works as an inflation hedge.”
According to Scaramucci, the increase in adoption rates could push Bitcoin to $100,000 in the next 12 to 18 months.