Bitcoin could „easily“ reach $100,000 by 2022
Bitcoin could „easily“ reach $100,000 by 2022: Top wealth managers
Anthony Scaramucci, founder of the $9.2 billion hedge fund SkyBridge Capital, who served (albeit briefly) as communications director in the Trump administration, believes: bitcoin (BTC) could „easily“ reach $100,000 within a year. Forbes reports that.
„You’re going to be looking at Bitcoin, which means in your mosaic of stocks and bonds and alternatives and gold, there’s going to be a couple of percentage points that have to do with the digital currency,“ Scaramucci said.
„And since Bitcoin is the winner of that battle, it will probably be Bitcoin. So if you’re not an investor in Bitcoin, you’re effectively short on Bitcoin.“
Last December, Scaramucci’s fund itself filed a Regulation D form with the U.S. Securities and Exchange Commission for a crypto fund. SkyBridge Bitcoin Fund L.P. opened to investors by Bitcoin Rush app in January, with SkyBridge initially putting $25 million of its capital into it.
„One of the things we’ve been trying to do is democratise the hedge fund industry“. Buying bitcoin is „still a bit difficult“, Scaramucci said at the time.
„So, we think there’s a very big movement for Bitcoin in the next five to 10 years.“
Bitcoin has „a very big future“
Today, SkyBridge’s Bitcoin fund is „moving towards $100 million“ in assets under management, Scaramucci explains, while Bitcoin has „a very big future“ ahead of it. In total, SkyBridge currently holds about $500 million in Bitcoin across its investments.
„The performance was crushed by the pandemic last year in March. The SkyBridge Series G fund is up 33% since 1 April, and part of that was frankly the move in Bitcoin that we took advantage of in the fourth quarter of last year,“ Scaramucci said.
However, he also comments that bitcoin is still a volatile asset that is susceptible to unpredictable price movements. Scaramucci:
„Some of what you’re seeing this week is short squeeze, very similar to what would have happened with Tesla, where the non-believers in Tesla were out of their shorts, the same thing is kind of happening here with Bitcoin“
As has been widely reported, Elon Musk’s tech company Tesla revealed on Monday it had bought $1.5 billion in Bitcoin.