Scaramucci Stands Firm: Halving Cycle Will Take Bitcoin Past $100K

Skybridge Capital CEO Anthony Scaramucci is sticking to his guns on Bitcoin's price. Despite the current bear market, he believes that the halving cycle will drive supply cuts and propel BTC above $100,000.

In a recent interview, Scaramucci acknowledged that Bitcoin's price has stagnated near pre-war levels following the U.S. and Israeli military strikes on Iran in June 2023. However, he argued that three structural headwinds, miners transferring computing power to AI, capital reallocation from digital assets to artificial intelligence, and reduced volatility, have played a far greater role in driving the crypto bear market than the war itself.

Scaramucci emphasized that his team's optimism hasn't wavered. 'The real question is are we still bulls on Bitcoin, and the answer is resoundingly yes. I think the halving cycle comes in again and we cut the supply of coins again, it will tighten the price, and I think you will see the thing move back up over $100,000,' Scaramucci said.