Cryptocurrency leader bitcoin is in the spotlight as Anthony Scaramucci, the founder of sky bridge capitalmakes a bold forecast, envisioning btc reaching a staggering $200,000 in the long term, as the digital asset continues to attract investors from around the world.
Scaramucci optimistic about bitcoin's long-term growth
SkyBridge Capital founder Anthony Scaramucci shared his thoughts on btc's long-term growth during a Thursday. bitcoin-is-still-very-young-in-terms-of-adoption-says-skybridge-capitals-anthony-scaramucci.html” target=”_blank” rel=”noopener nofollow”>interview with Andrew Ross on CNBC's Squawk Box. In the interview, Scaramucci delved into the early stages of bitcoin adoption and how it could impact btc.
When asked about the currency's role as a safe haven amid market turmoil, Scaramucci responded that unless btc's user base reaches one billion, it will not fulfill its advertised potential as an inflation hedge or reserve. of value, suggesting inflation hedging characteristics.
According to the founder, bitcoin It is still in its early stages and will continue to trade like other risk assets until it surpasses the aforementioned user base, which it expects to happen by the end of 2026 or even earlier. “Right now, it's going to be a lot more volatile than people would like, and people view it as a risky or risky trade until we get to that adoption curve,” he said.
Emphasizing the possible bullish and bearish objective, he noted that given the presence of a terrorist climate or war, btc could witness a potential drop of up to 10 and 15% as it remains a risky and riskless asset. Despite the possible correction, Scaramucci is very optimistic about massive growth in the foreseeable future and puts his target at possibly $200,000.
He stated:
I don't think it has a 50% downside, but it could have a 10 or 15% downside simply because it is still a risk-free asset. But in the long term, with the Reduce by half This week, I think this will trade between $270,000 and possibly $200,000. And that's consistent with where it's been over bitcoin's 15 years.
Addressing btc Volatility Today, Scaramucci compares the current stage with the volatility of amazon shares seen in 1999. Given the growth of amazon shares over the years, the founder believes that btc will reflect this expansion and perhaps even better.
“If you're willing to hold the asset for five years, I think you'll do very well in the end,” he added. Therefore, he predicts that btc investors will make significant long-term gains if they decide to hold it as it is still in its infancy in terms of adoption.
Does btc offer a safe haven amid market turmoil?
Peter Schiff, a cryptocurrency critic and gold advocate, has also x.com/PeterSchiff/status/1781138048777912407″ target=”_blank” rel=”noopener nofollow”>Offered his thoughts on the topic, underscoring that btc fails to provide an advantage in times of market turmoil. According to Schiff, immediately after the explosions in central Iran and the Israeli airstrikes in Iraq, bitcoin plunged 4% to $61,000, while gold rose 1.6% to $2,416.
Due to this, he questioned the community about which digital token is highly speculative and which is a safe haven. Schiff's ideas suggest that during worrying weather, gold is more reliable than btc as a store of value.
Featured image from iStock, chart from Tradingview.com
