Anthony Scaramucci has not ruled out BTC rising to $500 000

According to the investor, this will happen by the end of 2024 or mid-2025

16.11.2021 - 11:45

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What’s new? SkyBridge Capital founder Anthony Scaramucci believes bitcoin may easily reach a price of $500 000. This will happen by the end of 2024 or mid-2025 if Ark Invest founder Cathie Wood's prediction comes true. She believes the number of BTC wallets will reach 1 billion by then.

"These coins will easily trade at $500,000 a coin. You don't even have enough bitcoins for every millionaire in our society to own one coin," says @Scaramucci #btc #bitcoin pic.twitter.com/AxB9F4Vqyq— Squawk Box (@SquawkCNBC) November 12, 2021

Why did Scaramucci make that prediction? The businessman said that there aren't enough BTC in the world yet for every millionaire to own at least one coin. According to JPMorgan, there are at least 49 million dollar millionaires, but the supply of the first cryptocurrency is limited to 21 million coins.

It is because of the limited issuance of BTC and the narrow number of millionaires invested in the coin that Scaramucci believes the price of bitcoin may still rise.

What else did Scaramucci say? The investor also noted that bitcoin is an insurance against inflation, and its current level is a good opportunity to enter the asset.