Scaramucci Sees 20 Months Before Bitcoin Reaches $100K

Bitcoin's price crossed $65,000 for the first time in over a week, but Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director, believes it may take another 20 months for Bitcoin to reach its target of $100,000.

In an interview with CNBC, Scaramucci stated that Bitcoin is currently in 'a clear bear market', but noted that the asset has only fallen about 55% from its highs, compared to 75-80% drawdowns in prior cycles over his 37 years of investing experience.

Scaramucci attributed the tight trading range and lack of volatility to three factors: miners shifting resources toward AI infrastructure, capital flowing out of Bitcoin into AI investments, and the cryptocurrency's position within its four-year market cycle.