According to U.Today, renowned investor Anthony Scaramucci has recently shared his perspective on the future price of Bitcoin in relation to the halving event that took place last Friday. During his latest appearance on Wealthion, Scaramucci, a long-standing advocate for cryptocurrency, emphasized the substantial demand for Bitcoin. This demand is largely driven by investors purchasing into ETFs such as BlackRock and Kathy Wood's funds, while the network only generates 450 coins daily.
Scaramucci noted that this demand often leads to a surge in prices. However, following the halving event, prices usually drop. He explained that this is due to many short-term Bitcoin holders selling after making profits, while new investors enter the market. Scaramucci stressed his personal strategy of holding Bitcoin for the long term, regardless of price fluctuations. He cited Bitcoin's robust performance over the past 14 years as proof of its value.
Scaramucci advised against viewing Bitcoin as a lottery ticket due to its volatility. Instead, he encouraged people to invest in it to become part of the revolution. He suggested starting with a small investment to understand Bitcoin's technical properties and experience the thrill of being involved in the cryptocurrency space.
Previously, Scaramucci expressed his views on the future price of Bitcoin. He anticipates a potential valuation increase of up to 10 times from the current level, which could reach $6-8 million. Despite this optimistic forecast, Scaramucci stated that Bitcoin is currently neither a strong inflation hedge nor a fully established store of value. He attributed this to the relatively low global adoption of the coin, suggesting that significant changes would not occur until Bitcoin attracts at least a billion users, a milestone he expects around 2026.