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.

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.