Scaramucci Predicts Bitcoin Could Reach $100K by Year-End

Anthony Scaramucci, the founder of SkyBridge Capital, is reinforcing his forecast that bitcoin (BTC) will hit $100,000 by the year’s end, attributing it to two significant catalysts.

In a recent interview with Bloomberg, Scaramucci highlighted interest-rate reductions and clearer cryptocurrency regulations post-November elections in the United States as crucial factors in driving the leading crypto asset to new heights.

“We are poised to see pro-cryptocurrency, Bitcoin, and stablecoin legislation emerge in the initial stages of the upcoming congressional term in the US. Concurrently, we are aligning with rate cuts from the Federal Reserve,” he remarked.

Why Scaramucci Believes BTC Will Reach $100K

The Federal Reserve is scheduled to announce its interest rate decision today. Speculation suggests the Fed is likely to lower its rate by half a point, which would alleviate borrowing costs for Americans. Scaramucci supports this forecast, noting that it would “significantly benefit asset prices both in the US and globally.”

The founder of SkyBridge Capital is advocating for crypto-friendly legislation following the U.S. presidential election. He anticipates bipartisan support for digital asset market legislation from both Republicans and Democrats.

As the campaigns progress, Republican candidate Donald Trump is vocally pro-crypto, making numerous promises to advance assets like Bitcoin if elected, which has garnered him support among crypto enthusiasts in the country.

In contrast, Democratic candidate Kamala Harris has displayed less enthusiasm for the crypto industry. Nevertheless, having gained the confidence of certain crypto figures, there are speculations that Harris could win the election.

Scaramucci has expressed his belief that supportive crypto regulations would be implemented under a Harris administration should she prevail, referencing discussions with her election team.

It’s important to mention that Scaramucci has consistently maintained his $100,000 price prediction for the leading cryptocurrency within this year.

BTC Trading Over $60k

Currently, after reaching a peak of over $73,700 in March, bitcoin has retraced to lower levels. Although the leading crypto asset has faced challenges since the beginning of this month, analysts are optimistic about its performance in October.

At the time of writing, BTC is trading at $60,200, reflecting a 2.67% increase in the previous 24 hours.