According to Anthony Scaramucci, the market is waiting for a sharp jump in demand for the first cryptocurrency

SkyBridge head predicts the growth of bitcoin to $300 000 due to BlackRock

14.08.2022 - 06:30

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2 min

What’s new? Anthony Scaramucci, head of investment firm SkyBridge Capital, believes that the launch of a spot bitcoin trust by investment firm BlackRock will contribute to a sharp jump in demand for the first cryptocurrency and lead to an increase in the price of the asset. According to Scaramucci, BTC will reach the $300 000 mark within a few years. In an interview with CNBC, the head of SkyBridge said that he noticed a revival of investors’ interest in the cryptocurrency market.

CNBC’s material

What else did the head of SkyBridge add? According to Scaramucci, BlackRock’s recent partnership with cryptocurrency exchange Coinbase is a sign that the investment firm’s CEO Larry Fink is seeing institutional demand for digital assets. As part of the partnership with Coinbase, BlackRock’s institutional investors who use the Aladdin crypto platform will have direct access to digital assets.

“I just want to remind people that there are only 21 million BTC out there, and you’ll have a demand shock with very little supply,” the head of SkyBridge added.

On August 13, 11:30 UTC, bitcoin is trading at $24 512, having gained 3,16% per day, according to Binance.

BlackRock is one of the world’s largest asset management and investment firms. It had $10 trillion in assets under management as of January 2022. The company’s shares are traded on the New York Stock Exchange (NYSE) under the ticker BLK.

As of August 13, BLK is trading at $751,83, having gained 3,18% per day. The cost of one share of the Coinbase (COIN) exchange is $90,49 (+7,73%), according to Investing.com.

For more details on how the launch of BlackRock’s bitcoin trust will affect the digital asset market, see GetBlock Magazine’s editorial.

SkyBridge Capital was founded by former Donald Trump aide Anthony Scaramucci in 2005. In late April, the company announced the launch of a mining fund. In July, its Legion Strategies fund suspended payments amid a sharp drop in stocks and cryptocurrencies.

In August, the head of SkyBridge said that the worst part of the bear market is over and that the BTC rate is unlikely to fall below $17 500. Scaramucci also called a fair price of bitcoin, in his opinion, it should be at the level of $40 000.

Author:

Vasiliy Smirnov Vasiliy Smirnov

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