Scaramucci: $500k Possible for Bitcoin

Well-known hedge fund manager Anthony Scaramucci said "$500K is possible" for Bitcoin. Although Bitcoin has lost value in recent days with the SEC's spot ETF rejection and Evergrande news, many names, including famous hedge fund manager Anthony Scaramucci, have no doubt that the rise will continue.

"Bitcoin Can Easily Reach $500 Thousand..."

Scaramucci, the manager of SkyBridge Capital, which has nearly $10 billion in assets under his management, claimed in a statement to CNBC that Bitcoin could easily reach $500,000. Scaramucci bases this claim on Bitcoin's limited supply of 21 million compared to the number of high-net-worth individuals. At this point, the fund manager referred to JPMorgan's data showing that it has $50 million millionaires worldwide and used the following statements: "There isn't even enough Bitcoin for every millionaire to have at least 1 BTC." Believing that Bitcoin is still at the beginning of the road, Scaramucci noted: “When I came to this program last year, Bitcoin was $18,000 and I said we were just getting started, now we are at $60,000 and I say we are at the beginning of the road again.” Continuing his words by emphasizing that Bitcoin is an extremely scarce asset, Scaramucci said, "I try to explain to people as much as I can why they should buy Bitcoin."