Founder of SkyBridge Capital is positive Bitcoin will bounce back despite price fluctuations
Legendary investor Anthony Scaramucci has shared his view on future Bitcoin price in regard to the halving event that happened this Friday.on Wealthion, the long-time crypto proponent highlighted the significant demand for Bitcoin driven by investors buying into ETFs like BlackRock and Kathy Wood's funds, while the network produces only 450 coins per day.
Crypto and Bitcoin are still new to most people. I tried to answer some of the biggest questions like use cases and the upcoming halving. Give it a watch:This demand often pushes prices higher, but after the halving event, prices typically decline. Scaramucci explained that many short-term Bitcoin holders sell after making profits, while new investors enter the market.
He emphasized his personal strategy of holding Bitcoin long-term, regardless of price fluctuations, citing Bitcoin's strong performance over the past 14 years as evidence of its value.“I don't care if it goes down. I'm going to sit and hold it and then it builds itself back up. That's happened over the last 14 years of Bitcoin. It is the best performing asset that we know about in the world.
“Don't think of it as a lottery ticket, it is volatile, you know, be wary. But get off zero and and join this Revolution. I always say to people: you buy a little bit of Bitcoin you start focusing on the technical properties of it and you'll be excited that you did,” Scaramucci said.his stance on future BTC price. He predicts a potential valuation increase of up to 10 times from the current level, which could reach $6-8 million.
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