Anthony Scaramucci, the founder of SkyBridge Capital, has made some bold predictions regarding the future of Bitcoin. In a recent interview on Unchained, he expressed his belief that Bitcoin could reach new all-time highs if Joe Biden wins the upcoming presidential election. Scaramucci is confident that under a second Biden administration, Bitcoin could soar to between $170,000 and $250,000.
Despite Scaramucci’s unexpected support for Biden, he is optimistic about the future of crypto under a Biden presidency. He dismissed the notion that the current government is anti-crypto, citing the approval of Spot Ethereum ETFs and the potential for more layer-1 ETFs. Scaramucci also believes that Biden will be more open to crypto-friendly legislation in the future, even though he vetoed the SAB 121 bill.
Scaramucci’s support for Biden is particularly surprising given his past relationship with former President Donald Trump. Trump had expressed support for cryptocurrencies, signaling a more crypto-friendly stance than Biden. However, Scaramucci criticized Trump for being “transactional” and suggested that his recent support for crypto may be politically motivated. He believes that Trump’s newfound openness to crypto is an attempt to appeal to the crypto community for votes.
Scaramucci argues that the crypto industry has already achieved significant victories, pointing to successes against individuals like Senator Elizabeth Warren and Gary Gensler. He describes them as “authoritarian and autocratic” figures who have been defeated by the crypto space. Scaramucci also highlights the industry’s wins in court against the Securities and Exchange Commission (SEC), leading to fines and rebukes for the Commission.
Furthermore, Scaramucci suggests that the SEC has been influenced by Biden’s administration and campaign team to adopt a more favorable stance towards crypto. He believes that Biden’s team recognizes the importance of a pro-crypto position for the success of their campaign. Scaramucci’s insights shed light on the complex interplay between politics, regulation, and the cryptocurrency industry.
Scaramucci’s predictions and analysis of the future of Bitcoin and the crypto industry offer valuable insights into the potential impact of political decisions on the market. As the industry continues to evolve, it will be interesting to see how his forecasts play out and whether Bitcoin will indeed reach new heights under a Biden administration.
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