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Skybridge Capital Founder Doubles $ 100,000 Bitcoin Forecast — BTC Expected to Reach $ 500,000 in the Long Term – Market and Price Bitcoin News

The founders of SkyBridge Capital have doubled Bitcoin’s $ 100,000 price forecast. We also believe that Bitcoin can reach $ 500,000 per coin in the long run. “But from a regulatory point of view, there are some things to do here,” he says. Executives also advised on how the average investor could enter Bitcoin.

Founder of SkyBridge Capital Bitcoin Price

Anthony Scaramucci, founder of investment management firm Skybridge Capital, spoke with TIFIN in an interview with Magnifi’s Melissa Francis about the future outlook for Bitcoin on Friday.

Scaramucci expected the price of BTC to reach $ 100,000 by the end of last year, but after the US Securities and Exchange Commission (SEC) approved the Bitcoin Exchange Traded Fund (ETF), it “broke the regulatory environment. I didn’t evaluate it properly. ” ).

“I thought there was a Bitcoin futures [ETFs], You will soon be in cash. There are too many political headwinds for that, “he explained. Instead, BTC has been revised from a record high of $ 68,892 to a level of $ 40,000 based on Bitcoin.com Markets data.

Nevertheless, the founders of SkyBridge Capital believe that Bitcoin’s price could reach $ 100,000 this year. He states:

Can you get there this year? Yes. Is it possible to arrive in more than 2 years? I am very convinced of that. But from a regulatory point of view, there are some things to do here.

“We need to calm the market a bit. We need to go through Covid, but it doesn’t go anywhere,” he emphasized.

How the average investor enters Bitcoin

The founder of SkyBridge Capital was also asked what to do if he was an average investor not investing in cryptocurrencies, and immediately replied, “I would buy some.” He added, “I will average.”

While warning that volatility will occur, Scaramucci said:

The only way to handle such technology is to use the dollar cost averaging method and make small purchases each month.

Regarding the percentage of salary that the average investor should put in Bitcoin, Scaramucci advised that “you choose a comfortable number and buy little by little every month.” He recommends putting in between 1% and 4%.

“I put 4% of Skybridge’s money into Bitcoin. I started with a 4% cost position … when I talked to me at peak times it was 22%,” he details. “It has fallen to a position of about 15%.”

He continued: “I think you need to be part of that. I think it’s a mistake to underinvest or zero invest in blockchain and cryptocurrencies.”

$ 500,000 per Bitcoin

Scaramucci also commented on how high the price of Bitcoin could be in the long run, reiterating his previous prediction that BTC could reach $ 500,000 per coin.

“This is an early adoption technology,” said a SkyBridge Capital executive. “This will be very volatile. There will be a period of Bitcoin crashes, which will drop by more than 50%.” Warned.

But if you’re happy to zoom out, look at long-term charts, and see the hiring story, can Bitcoin get $ 500,000? I believe it will happen.

Scaramucci has been bullish on Bitcoin for quite some time. Last November, he urged investors to start buying BTC, saying: You need to own this now. “

Tags for this story

Anthony Scaramucci, Bitcoin Prediction, Bitcoin Price Prediction, Cryptocurrency Prediction, Cryptocurrency Prediction, Dollar Cost Average, Dollar Cost Average, Scaramucci, Skybridge Bitcoin, Skybridge Capital, Skybridge Crypto

What do you think of Scaramucci’s advice? Please let us know in the comments section below.

Kevin Helms

Kevin, a student of Austrian economics, has been an evangelist since he found Bitcoin in 2011. His interests are in Bitcoin security, open source systems, network effects, and the crossroads of economics and cryptography.

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