Prominent U.S. financier with a net worth of $200 million, who is also the head of SkyBridge Capital and SkyBridge Bitcoin Fund created in December 2020, has told CNBC’s Squawk Box why he expects Bitcoin to hit $100,000 by the end of this year.
Bitcoin may skyrocket due to the supply and demand issue
That financier, Anthony Scaramucci, believes that the world’s flagship cryptocurrency may reach a mammoth $100,000 by the end of 2021 due to the supply and demand situation.
There is a fixed supply, he explained, and very hard demand from financial institutions. He pointed out that MicroStrategy has just issued $900 worth of debt in securities to add more Bitcoin to its already impressive BTC stash.
Scaramucci’s fund holds over half a billion USD in Bitcoin. He warned, however, that individual investors may want to be cautious, but overall he is bullish on BTC this year.
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Nouriel Roubini slams Bitcoin as it soars to a new all-time high
Prominent economist Nouriel Roubini, also known as Dr. Doom for foreseeing the mortgage securities crisis of 2008-2009, talked to Bloomberg about Bitcoin earlier today.
He bashed the world’s largest crypto, explaining its sudden rise to $51,600 this morning by heavy market manipulation and pump and dump schemes at work.
He again opined that Bitcoin is a bubble, it is not a store of value or means of exchange, it is highly volatile and that “The Flintstones had better monetary systems than Bitcoin.”
Earlier today, Bitcoin printed a new all-time high of $51,600 after surging above the $50,000 level twice on Feb. 16.
At press time, the flagship cryptocurrency is sitting at $51,000 on Binance, as per a chart from TradingView.