Anthony Scaramuccithe founder of SkyBridge Capital, has predicted that Bitcoin could reach new all-time highs (ATH) as its favorite presidential candidate wins. He also claimed that crypto has “already won” following recent developments in the sector.
Bitcoin could rise to $250,000 if Joe Biden wins
Scaramucci mentioned during a interview on Unchained that he believes the market will witness a new ATH for Bitcoin during a second Biden administration if the incumbent US president wins his re-election bid. As for how high Bitcoin can rise, Scaramucci predicts the flagship crypto will rise somewhere in between $170,000 and $250,000.
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The SkyBridge founder also revealed that he would vote for Joe Biden, claiming that the good news for those who support Biden and crypto is that the ‘needle’ has moved in a positive direction. Scaramucci sought to dispel the belief that this current administration is anti-crypto, noting that the Spot Ethereum ETFs have been approved and that there could be more layer-1 ETFs.
Scaramucci further stated that although Biden vetoed the SAB 121 bill, he believes there will be a crypto bill in the ensuing session of Congress that Biden will be willing to sign. Scaramucci is also optimistic about Biden’s second term regarding crypto, as he believes the “anti-crypto nonsense” he says is sponsored by Senator Elizabeth Warren And Gary Genslerwill be a thing of the past by then.
Interestingly, Scaramucci served as White House communications director under former US President Donald Trump, making his support for Biden surprising. Trump had that too recently confirmed his support for cryptocurrencies, suggesting he was more open to Bitcoin and other crypto assets than Biden.
Despite all this, however, Scaramucci explained that he does not support Trump because the former US president is “very transactional.” He noted that Trump had an anti-crypto stance when he was president and has now made a complete about-face, suggesting that Trump may simply support crypto because he wants to get votes from the crypto community.
Why Crypto “Already Won”
Scaramucci stated that the crypto industry has already won because it defeated Warren and Gensler, which he says are very Trump-like and “authoritarian and autocratic.” He also noted how the crypto industry has defeated the crypto industry Securities and Exchange Commission (SEC) taken to court on several occasions, some of these cases being the cause of the Commission to pay fines and be punished by judges.
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Scaramucci also claimed that the SEC has been pressured Biden’s administration and his campaign team, who have realized that anti-crypto is bad for Biden’s campaign. Based on the points he outlined, Scaramuci reaffirmed that the crypto industry has won against those who are anti-crypto.
Featured image created with Dall.E, chart from Tradingview.com