Scaramucci: Bitcoin could trade at $500,000

Bitcoin could easily reach a price of $500,000. SkyBridge Capital founder Anthony Scaramucci made such a forecast on CNBC, citing the restricted supply of the first cryptocurrency and the potential number of wealthy investors in it.

According to JPMorgan, there are at least 49 million dollar millionaires, but the supply of digital gold is limited to 21 million coins, he noted.

There are not enough bitcoins for every millionaire in our society to own at least one coin,” he stressed.

In his view, the price of the first cryptocurrency would reach that level by the end of 2024 or mid-2025 if Cathie Wood’s forecast comes true. Earlier, Cathie Wood, founder of ARK Invest, predicted that by that time the number of Bitcoin wallets would reach one billion.

Scaramucci described digital gold as an inflation hedge and said that current levels remain an early opportunity to enter the asset.

As for me, I am doing all I can to explain to people why they should own this right now,

Earlier, Scaramucci said Bitcoin could become a global reserve currency.

He also noted that only one in ten institutional investors has invested in the leading digital asset.

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