Bitcoin could 'easily' reach $15 trillion market cap, says Anthony Scaramucci
Anthony Scaramucci, founder and managing partner at SkyBridge Capital, continues to be bullish on bitcoin. He now thinks bitcoin could increase by a whopping 2,662% from its current market capitalization of around $543 billion. "I think bitcoin could easily be a $15 trillion asset," Scaramucci said on the OPTO — Invest in Innovation podcast last week. Bitcoin "in many ways is more valuable than gold" and could become a store of value, Scaramucci said, adding that because of those reasons, "we own a lot of bitcoin here."
While Scaramucci, a former White House communications director under Donald Trump's presidency, is bullish on bitcoin, he doesn't think it will become the universal standard of money as some bitcoin maximalists want it to become, at least in his lifetime. Still, "some weird things could happen where you could see nations that are hostile to the U.S. trading with bitcoin or trading with a gold-backed denominated something or other, away from the U.S. dollar because of the way the U.S. has used the dollar in terms of asserting its geopolitical will on others," Scaramucci said. Scaramucci's estimation of the bitcoin market cap implies a price of over $700,000 per bitcoin, given its fixed supply of 21 million coins. The current price of bitcoin is around $27,860.
