Anthony Scaramucci, the financier and Founder of SkyBridge Capital who briefly served as White House communications director, has made a strong case for Bitcoin’s long-term value.
According to him, Bitcoin’s market capitalization is on track to reach $21 trillion, and this is due to its fixed supply, growing institutional footprint, and a monetary trust system built over 16 years without any central authority. But if Bitcoin reached a market cap of $21 trillion, how much would 1 BTC be worth?
The logic of $21 trillion
Bitcoin has a fixed supply limit of 21 million BTC baked into its protocol and is immutable by design. This means that there will never be more than 21 million Bitcoin in existence, and at some point investors will only be able to own fractions of Bitcoin.
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According to Scaramucci it is Bitcoin has controlled every feature that has defined money throughout human history. The advantage of Bitcoin is that the trust model is decentralized, the supply is fixed and the network has now functioned long enough to gain credibility with both private and institutional investors. That’s why there’s a good chance the market cap will reach as high as $21 trillion.
Scaramucci positions this as a ceiling that is still below gold’s total market cap, which currently stands at around $33 trillion according to CompaniesMarketCap data. This gap can be closed and Bitcoin offers structural advantages. “You can move it faster and store it more easily,” he said. “
On a fully diluted basis, the math comes out to exactly a round figure for BTC. A market cap of $21 trillion divided by Bitcoin’s maximum supply of 21 million coins gives a price of $1 million per BTC. At the time of writing, only 20,018,784 BTC have been mined, meaning there are approximately 981,216 Bitcoin yet to be mined. That is less than 5% of the total supply.
At the time of writing, Bitcoin is trading at around $76,534, meaning a rise to $1 million will translate into a 1,200% increase from here on out.
Wall Street is coming to Bitcoin
Institutional inflow is the most important factor when it comes to the possibility of the Bitcoin price reaching extravagant price targets like $1 million. Scaramucci specifically cited institutional momentum as evidence of the structural shift is already underway.
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Morgan Stanley launched its own Spot Bitcoin ETF on April 8, 2026, trading under the ticker MSBT on NYSE Arca, making it the first major US commercial bank to directly issue such a product. Goldman Sachs is also participating process of launching its Spot Bitcoin ETF, after filing paperwork with the SEC for the Goldman Sachs Bitcoin Premium Income ETF.
Therefore, the question of whether Bitcoin will eventually reach $1 million per coin and a market cap of $21 trillion is ultimately a question about the pace and sustainability of institutional adoption.
Featured image from Pixabay, chart from Tradingview.com