Bitcoin for $8 million?
Bitcoin for $8 million? Anthony Scaramucci Presents Epic BTC Price Forecast
Leading investor Anthony Scaramucci has shared his exciting price forecast for Bitcoin in the context of the upcoming halving event set to occur in April.
During a recent interview with CNBC, Scaramucci noted that the halving event is not fully priced in yet, as the BTC price "has a lot of room to run." Regarding the price target, he predicts that the valuation of Bitcoin could increase up to tenfold from its current level.
"I'm just saying it should be half the market cap of gold, which means a sixfold to eightfold, even tenfold move from here." However, he added that this move won't happen in a short period.
Scaramucci also emphasizes that in April 2024, the Bitcoin market experiences significant growth, surpassing the $10 billion milestone achieved by the Gold ETF (GLD) in just 25% of the time. He believes that Bitcoin's halving, where miner rewards are cut in half, has not yet been fully factored into the market valuation, contrary to the belief of many others.
Despite Bitcoin's potential, Scaramucci acknowledges its volatility and cyclical nature. He predicts a potential price target of $170,000 for this cycle, driven by waves of demand and adoption.
Additionally, Scaramucci reveals his interest in other cryptocurrencies such as Solana and Avalanche, although Bitcoin remains his primary focus due to its market dominance.
"Buy Bitcoin. Get ready," urges Scaramucci, who is an active advocate for Bitcoin and consistently promotes its transformative potential. He believes that Bitcoin and gold can be compared as stores of value, suggesting that traditional investors, including Warren Buffett, will eventually recognize Bitcoin's value.
In a recent post on platform X, a Bitcoin advocate reacted to the latest forecasts from the Congressional Budget Office indicating that US federal debt will rise to 116% by 2034. Although this trajectory exceeds the levels of debt observed during World War II, Scaramucci warns that the actual prospects may be even more concerning.
*This is not a ficnancial advice
