Ethereum’s price could soar to $10,000–12,000, according to Anthony Scaramucci, CEO and founder of SkyBridge Capital.
During an appearance on the Unchained podcast, the entrepreneur suggested Bitcoin could reach values between $170,000 and $250,000.
Scaramucci believes the decisive factor will be the adoption of the leading cryptocurrency as an asset class by institutional players.
“It will be an investment advisor or a pension fund. But someone, to keep their job, will seek advice on where to allocate money,” stated the head of SkyBridge Capital.
Contrary to the views of some in the crypto community, he predicted a victory for Joe Biden in the upcoming U.S. elections. However, Scaramucci believes this will not prevent Bitcoin from reaching new all-time highs.
The entrepreneur sees institutional acceptance of cryptocurrency as the main driver. According to him, the share of digital gold in the portfolios of major players will soon reach 3%.
“And when that happens, there will be huge demand for Bitcoin,” Scaramucci believes.
As an example of this trend, he cited the Wisconsin State Investment Board’s investment in the leading cryptocurrency through an ETF exceeding $160 million. Scaramucci described the approval of spot Bitcoin exchange-traded funds as a significant regulatory breakthrough for attracting new capital.
Back in April, the entrepreneur opined that the leading cryptocurrency would become a store of value by the end of 2026.