SkyBridge Capital founder Anthony Scaramucci is optimistic that demand for Bitcoin (BTC) will proceed to extend within the coming years.
In a brand new interview on the Bitcoin Investor Day convention in New York Metropolis, Scaramucci says the $84 trillion nice wealth switch from the newborn boomers to the youthful era may have a bullish impression on Bitcoin.
The Wall Avenue veteran notes that 25-year-old buyers immediately have already got “plenty of Bitcoin” whereas their older counterparts personal simply “slightly bit” of BTC, suggesting that demand for the flagship digital asset will ramp up within the coming years as new buyers race to gobble up the crypto king.
“So within the subsequent 10 years, I see it like a giant python the place Bitcoin goes to get absorbed into the python. There might be a giant bump up in Bitcoin demand and that’s coming inside the subsequent decade.”
Scaramucci says it’s properly inside the realm of chance for BTC to achieve the $1 million degree, contemplating that gold has a market cap of about $14.5 trillion.
“Michael Novogratz or Cathie Wooden, they see a $1 million Bitcoin. A $1 million Bitcoin is a $21 trillion market, gold is $14-$15 trillion.
They’re suggesting that Bitcoin ought to commerce to a 150% of gold’s total market cap. Let’s say they’re flawed. Let’s say it trades to its market cap or half of what they’re saying, that’s nonetheless inside the ballpark of what I’d take into account digital gold.”
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