Bitcoin Tops $65K, But $100K Target Still 20 Months Away, Scaramucci Says

Bitcoin's price has crossed $65,000 for the first time in over a week, but according to Anthony Scaramucci, it may take another 20 months for the cryptocurrency to reach its target of $100,000.

In an interview with CNBC, Scaramucci tied his bullish long-term view directly to Bitcoin's halving cycle. He believes that as the halving cycle comes in again and the supply of coins is cut, it will tighten prices and cause the asset to move back up over $100,000.

Scaramucci also noted that Bitcoin has been trading in an unusually tight range due to a combination of factors, including miners redirecting their resources towards AI infrastructure and capital flowing into AI investments instead of cryptocurrencies.