Anthony Scaramucci, the founder of SkyBridge Capital, recently made bold predictions about the future of Bitcoin. He stated that if his preferred presidential candidate, Joe Biden, wins the reelection, Bitcoin could reach new all-time highs. Scaramucci believes that the market will see Bitcoin rise to between $170,000 and $250,000 during a second Biden administration.
Despite having previously served as the White House Director of Communications under former US President Donald Trump, Scaramucci revealed that he would be voting for Joe Biden in the upcoming election. This decision is surprising given Trump’s recent openness to cryptocurrencies compared to Biden’s perceived anti-crypto stance.
Scaramucci attempted to dispel the belief that the current government is anti-crypto. He pointed out that Spot Ethereum ETFs have been approved and that there could be more layer-1 ETFs in the future. Additionally, he mentioned that Biden vetoed the SAB 121 bill but expects a crypto bill that the President is willing to sign in the next congressional term.
While Trump has shown support for cryptocurrencies, Scaramucci explained that he is not backing the former President due to his belief that Trump is “very transactional.” He suggested that Trump’s current support for crypto may be a strategic move to gain votes from the crypto community rather than a genuine interest in the industry.
Scaramucci emphasized that the crypto industry has already won key battles, such as defeating individuals like Senator Elizabeth Warren and Gary Gensler, who he characterizes as authoritarian and autocratic. He also highlighted the industry’s successes in court against the Securities and Exchange Commission (SEC), leading to fines and rebukes for the Commission.
According to Scaramucci, Biden’s administration and campaign team have exerted pressure on the SEC to reconsider its stance on cryptocurrencies. They have come to realize that being anti-crypto could potentially harm Biden’s campaign, prompting a shift in the regulatory approach towards digital assets.
Anthony Scaramucci’s insights into the future of Bitcoin and the crypto industry offer a unique perspective on the evolving landscape of digital assets. His predictions and analysis shed light on the potential impact of political decisions on the cryptocurrency market and highlight the ongoing battle between regulators, politicians, and industry stakeholders.
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