Anthony Scaramucci, the founder of SkyBridge Capital, has made some bold predictions about the future of Bitcoin. According to him, if Joe Biden wins the presidential election, Bitcoin could potentially reach new all-time highs. He believes that the market will witness a surge in Bitcoin’s price during a second Biden administration, with the flagship crypto rising to between $170,000 and $250,000.
Political Support for Crypto
Scaramucci revealed that he would be voting for Joe Biden in the upcoming election. He claimed that the current government is not anti-crypto, citing the approval of Spot Ethereum ETFs and the potential for more layer-1 ETFs in the future. Despite Biden vetoing the SAB 121 bill, Scaramucci remains optimistic that there will be a crypto bill in the next congressional term that Biden will support.
Scaramucci’s Surprising Support
It is worth noting that Scaramucci previously served as the White House Director of Communications under former President Donald Trump. His support for Biden, considering Trump’s recent endorsement of cryptocurrencies, may come as a surprise to some. Scaramucci explained that he is not backing Trump due to the former President’s changing stance on crypto, suggesting that Trump’s support may be driven by political motives rather than genuine interest in the industry.
Scaramucci claimed that the crypto industry has already overcome significant challenges, particularly in facing opposition from figures like Senator Elizabeth Warren and Gary Gensler. He described Warren and Gensler as being authoritarian and autocratic, likening them to Trump in their anti-crypto sentiment. Scaramucci highlighted the industry’s victories in court against the Securities and Exchange Commission, noting that the SEC has faced fines and reprimands as a result.
Furthermore, Scaramucci suggested that Biden’s administration and campaign team have exerted pressure on the SEC to reconsider its anti-crypto stance. He argued that being seen as against crypto could harm Biden’s campaign, leading to a more favorable regulatory environment for the industry. By aligning with Biden, Scaramucci believes that the crypto community stands to benefit from a more supportive government in the future.
Anthony Scaramucci’s predictions and analysis offer an interesting perspective on the future of Bitcoin and the crypto industry. His insight into the intersection of politics and cryptocurrency sheds light on the potential impact of the upcoming election on the market. Only time will tell if Scaramucci’s forecasts ring true, but his observations provide valuable food for thought for those invested in the digital asset space.