Scaramucci Sees $100K Bitcoin in 18 Months

Anthony Scaramucci, founder of SkyBridge Capital, expects Bitcoin to surpass $100,000 in value. However, he believes it may take up to 18 months for this to happen.

The current market drawdown has been around 55%, significantly lower than the typical 75% to 80% collapses seen in previous bear markets, according to Scaramucci. He attributes this resilience to net buyers entering the market.

Scaramucci also mentioned three possible reasons for Bitcoin's price stagnation: miners redirecting computing power to AI, capital flight into AI stocks, and the four-year market cycle. The catalyst for a bull run, he believes, will be the upcoming supply cut in the next halving, which is approximately 18 to 19 months away.