During a recent appearance on CNBC, Anthony Scaramucci of Skybridge Capital predicted that 2025 would be a "very good year" for Bitcoin, the leading cryptocurrency.
The damage caused by the SEC delay
According to data provided by CoinGecko, Bitcoin is currently trading at $97,252.
Scaramucci believes that Bitcoin was supposed to reach that level all the way in 2022.
As noted by Scaramucci, a spot Bitcoin ETF was supposed to be approved during the first quarter of that year. "So, all of that delay caused a lot of price damage," he said.
Growing institutional adoption
Now, Scaramucci thinks that "a real question" is whether or not institutional players will enter the game. I think you see some of the endowments starting to do that. We know some of the sovereign wealth funds in the Middle East are quietly doing that," Scaramucci said.
$200,000 in 2025?
As reported by U.Today, Scaramucci previously stated that the price of Bitcoin could surge to as high as $200,000 this year.
That said, such predictions should be taken with a grain of salt since some of his earlier price calls turned out to be inaccurate. For instance, he predicted that the price of Bitcoin could surge to $175,000 after the halving.
Scaramucci has recalled how his Bitcon bet has been viewed differently over the past few several years depending on the price of the cryptocurrency. "I began my Bitcoin journey about five years ago…You oscillat between genius and dummy," he said.
The contagious effect of meme coins
Scaramucci has also compared meme cryptocurrencies to the infamous Dutch Tulip Bubble (“Tulip Mania”).
The American investor believes that such speculative tokens cause contagion onto Bitcoin.
"People think, okay, well maybe Bitcoin is just a very big meme coin, right?" he added.
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