scaramucci's Bitcoin Forecast

Anthony Scaramucci, the founder of SkyBridge Capital, has made a bold prediction about the future of Bitcoin.

During an interview on Unchained, Scaramucci stated that he believes the market will witness a new all-time high (ATH) for Bitcoin if incumbent US President Joe Biden wins his reelection bid. Scaramucci predicts that the flagship cryptocurrency could rise to between $170,000 and $250,000.

Support for Biden

Scaramucci revealed that he would be voting for Joe Biden. He claimed that the good news for those who support Biden and crypto is that the "needle" has moved positively.

He tried to banish the belief that this current government is anti-crypto, noting that the Spot Ethereum ETFs have been approved. Scaramucci also suggested that there could be more layer-1 ETFs in the future.

Future Crypto Legislation

Despite Biden vetoing the SAB 121 bill, Scaramucci believes there will be a crypto bill in the next congressional term that Biden will be willing to sign. He remains bullish on Biden's second term about crypto because he believes that the "anti-crypto nonsense," which he says is sponsored by Senator Elizabeth Warren and Gary Gensler, will be in the past by then.

"The crypto industry has already won because it beat Warren and Gensler," Scaramucci stated.

A Surprising Endorsement

Scaramucci served as the White House Director of Communications under former US President Donald Trump. This makes his support for Biden surprising. Trump recently affirmed his support for cryptocurrencies, suggesting he is more open to Bitcoin and other crypto assets than Biden.

However, Scaramucci explained that he does not support Trump because the former President is "very transactional." He noted that Trump took an anti-crypto stance while he was President and has now made a complete turnaround.

The Crypto Industry's Triumph

Scaramucci stated that the crypto industry has already won because it has defeated Warren and Gensler, who he claims are very Trump-like and "authoritarian and autocratic." He also noted how the crypto industry has defeated the Securities and Exchange Commission (SEC) several times in court.

Some of these cases have caused the Commission to pay fines and be rebuked by Judges. Scaramucci also claimed that the SEC has been pressured by Biden's administration and his campaign team, who have realized that being anti-crypto is bad for Biden's campaign. Based on these points, Scaramucci reaffirmed that the crypto industry has won against those who are anti-crypto.