Anthony Scaramucci Predicts Bitcoin to Hit at Least $170K Post Halving

Scaramucci also praised BlackRock CEO Larry Fink for “[doing] his homework” on bitcoin and changing his mind on the asset.

AccessTimeIconJan 29, 2024 at 4:53 p.m. UTC
Updated Mar 8, 2024 at 8:36 p.m. UTC

Skybridge Capital founder and managing partner Anthony Scaramucci sees bitcoin (BTC) soaring to at least $170,000 after the halving in April, when the number of new bitcoin entering circulation shrinks again.

“Go back and look at Bitcoin halving cycles,” Scaramucci said on the Scott Melker podcast. “The day that Bitcoin halves, multiply it by four [and] 18 months later and it’s been uncanny that that’s been the price of Bitcoin.”

“I’m using a $35,000 number at the halving and that’s conservative … Let’s say we’re at $50,000 in April, then it’s a $200,000 handle. Let’s say we’re at $60,000, it will be $240,000,” he said.

As for his long-term price target, Scaramucci predicts bitcoin could easily reach half of the market capitalization of gold, which would bring the price of one coin up to roughly $400,000.

Scaramucci previously disclosed that he was the first external investor in BlackRock’s spot bitcoin exchange-traded fund (ETF), prior to its approval on January 11.

Ahead of BlackRock's interest in a bitcoin ETF, its CEO Larry Fink was famously skeptical about the asset. In public interviews since his company last June filed paperwork for the ETF, however, Fink has done an about face, calling himself "a big believer."

“I’m going to give Larry a lot of credit, because Larry actually did the homework [on bitcoin],” Scaramucci said. “It takes a very smart leader to pridefully say that bitcoin sucks and then 24 months later say ‘you know what I got this wrong, BlackRock needs to be a part of this.’”

Edited by Stephen Alpher.


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Helene Braun

Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.