Hedge fund manager Anthony Scaramucci has forecasted record highs for Bitcoin, driven by anticipated interest rate cuts and forthcoming U.S. cryptocurrency regulations following November’s presidential election. In an interview on Wednesday, Scaramucci, founder of SkyBridge Capital LLC, highlighted the potential for significant gains in the digital asset market.
“We expect pro-cryptocurrency, Bitcoin, and stablecoin legislation in the early part of the next congressional term,” Scaramucci stated. “This legislative progress will coincide with Federal Reserve rate cuts.”
Scaramucci expressed a preference for bipartisan legislation supported by both Republicans and Democrats. His optimism contrasts with his past criticism of former President Donald Trump, for whom he served as communications director for 11 days in 2017 before being dismissed.
Trump, now the Republican nominee, has adopted a pro-crypto stance, seeking to appeal to donors and voters amid a competitive race with Vice President Kamala Harris. Harris’s position on digital assets remains less defined, but recent signals from her campaign suggest support for measures that would foster industry growth while ensuring necessary safeguards.
Scaramucci anticipates that the Federal Reserve will likely lower borrowing costs by 50 basis points in its upcoming meeting, with a total of at least 150 basis points in cuts over the next 18 months. He believes this will positively impact asset prices both in the U.S. and globally, potentially pushing Bitcoin to $100,000 by year-end.
As of 6:35 a.m. London time, Bitcoin was trading at $60,328, having risen about 5% over the past two days in anticipation of the Fed’s decision. The cryptocurrency previously reached an all-time high of $73,798 in March, driven by demand for U.S. exchange-traded funds, though its growth has since moderated as ETF inflows decreased.
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