In a recent interview on Monday, Anthony Scaramucci, the founder and managing partner of hedge fund SkyBridge, shared his bullish outlook on Bitcoin‘s future, anticipating a potential surge to $170,000 by mid- to late 2025. This optimistic forecast is attributed to the increasing demand for newly listed exchange-traded funds (ETFs) and the upcoming halving event scheduled for April.
Scaramucci explained that if Bitcoin maintains its current value of $45,000 at the time of the halving, it could quadruple to $170,000 within the next 18 months. The halving is a technical occurrence designed to decrease the rate at which new bitcoins enter circulation.
The cryptocurrency recently experienced a price jump, surpassing $49,000 following the approval of spot Bitcoin ETFs for trading on U.S. exchanges. However, the price has since retreated to approximately $42,000. Scaramucci attributed this pullback to investors shifting from the Grayscale Bitcoin Trust to the newly approved funds. He noted that it may take another eight to 10 trading days to fully observe the impact of these newly listed funds on Bitcoin prices.
The approval of spot Bitcoin ETFs marks a significant milestone in the United States after years of lobbying and applications from various firms, including SkyBridge, which had a previous application rejected in 2022.
Looking ahead, SkyBridge has ambitious plans, including the launch of a new fund that combines investments in crypto tokens and digital asset-focused venture capital. Scaramucci also expressed optimism about the performance of structured credit in the near future.
