Prominent U.S. financier with a net worth of $200 million, who is also the head of SkyBridge Capital and SkyBridge Bitcoin Fund created in December 2020, has told CNBC's Squawk Box why he expects Bitcoin to hit $100,000 by the end of this year.
Bitcoin may skyrocket due to the supply and demand issue
That financier, Anthony Scaramucci, believes that the world's flagship cryptocurrency may reach a mammoth $100,000 by the end of 2021 due to the supply and demand situation.
There is a fixed supply, he explained, and very hard demand from financial institutions. He pointed out that MicroStrategy has just issued $900 worth of debt in securities to add more Bitcoin to its already impressive BTC stash.
Scaramucci's fund holds over half a billion USD in Bitcoin. He warned, however, that individual investors may want to be cautious, but overall he is bullish on BTC this year.
Nouriel Roubini slams Bitcoin as it soars to a new all-time high
Prominent economist Nouriel Roubini, also known as Dr. Doom for foreseeing the mortgage securities crisis of 2008-2009, talked to Bloomberg about Bitcoin earlier today.
He bashed the world's largest crypto, explaining its sudden rise to $51,600 this morning by heavy market manipulation and pump and dump schemes at work.
He again opined that Bitcoin is a bubble, it is not a store of value or means of exchange, it is highly volatile and that "The Flintstones had better monetary systems than Bitcoin."
Earlier today, Bitcoin printed a new all-time high of $51,600 after surging above the $50,000 level twice on Feb. 16.
At press time, the flagship cryptocurrency is sitting at $51,000 on Binance, as per a chart from TradingView.
Vladislav Sopov
Tomiwabold Olajide
Godfrey Benjamin