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Anthony Scaramucci, the founder of SkyBridge Capital, anticipates a huge surge in Bitcoin‘s value if BlackRock secures approval for a spot Bitcoin ETF. This projection stems from Scaramucci’s belief that such an endorsement from BlackRock could draw $100 billion in institutional investments.
He shared his insights during an interview with the Arnold brothers on their YouTube channel, “Altcoin Daily”. In his words:
“Think of the magnitude of that, if there’s $100 billion that flows in bitcoin … that could have an 11-times factor in terms of valuation. So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.”
Such a major influx of institutional funds would be transformative for Bitcoin. Given this scenario, Scaramucci suggests Bitcoin’s price could skyrocket to around $330,000.
Furthermore, Scaramucci shed light on his company’s ties with the ex-CEO of FTX, Sam Bankman-Fried, who’s currently facing charges related to money laundering and fraud. While Scaramucci’s association with him became a point of discussion during the 12th day of Bankman-Fried’s trial, Scaramucci cleared the air about his involvement. He confirmed his interaction with the Department of Justice (DoJ) and his provision of all relevant communication, including text messages, emails, and his Signal account data. As for the possibility of him testifying in the trial, he made it clear that such an expectation should be laid to rest.
On another note, Scaramucci did not hold back on sharing his views about Gary Gensler, the chair of the Securities and Exchange Commission (SEC). Labeling him as “arrogant” and “self-righteous,” Scaramucci cautioned that Gensler might pose challenges for the crypto world for some time.