Anthony Scaramucci, CEO and founder of SkyBridge Capital, predicts that the price of Ethereum can reach $10,000 to $12,000. The businessman made the bold assumption that Bitcoin is worth between $170,000 and $250,000 on the Unchained podcast.
Institutional investors’ acceptance of the first cryptocurrency will determine its fate, claims Scaramucci.
A pension fund or investment advisor would be the ideal candidate. According to the head of SkyBridge Capital, “someone will seek advice on placing money” if they want to keep their job.
Despite what many in the crypto community believe, he picked Joe Biden to win the next US presidential election. Scaramucci, however, is of the opinion that this will not stop Bitcoin from setting new records.
For the entrepreneur, the most important factor is when cryptocurrency is accepted by institutions. He predicts that major players’ holdings of digital gold will soon reach 3%.
He used the Wisconsin Investment Council’s over $160 million in ETF investments in the first cryptocurrency as an example of the trend. Scaramucci hailed the clearing of regulatory hurdles for spot Bitcoin exchange-traded funds as a significant step toward luring new investment.
Remember that the entrepreneur claims that by the end of 2026, the first cryptocurrency will have become a store of value.