Anthony Scaramucci, founder of SkyBridge Capital, said Bitcoin will grind higher from its current low point and cannot get much worse [1, 2].
This outlook suggests a bullish trajectory for digital assets despite recent volatility. Scaramucci's projections link the potential growth of cryptocurrency to the broader valuation of traditional safe-haven assets like gold.
Speaking on CNBC Television’s "Fast Money," Scaramucci said the current state of the crypto market is a floor from which the asset is likely to rise [1]. He said, "Bitcoin will grind higher from here; it can’t get much worse" [1]. This perspective follows a period of downturn that Scaramucci believes has left little room for further downside [1, 2].
The investor tied the potential for extreme growth to the valuation of gold. He said that if gold hits $50 trillion [2], Bitcoin could see a 25-times upside [2]. This projection positions Bitcoin as a complementary asset to gold in a high-valuation environment.
Scaramucci also pointed to the U.S. political landscape as a factor in this growth. He said that U.S. market-structure legislation faces a difficult path through the Senate [2]. According to Scaramucci, the difficulty of passing such legislation could be bullish for the crypto market [2].
His forecast for the upward momentum of the asset extends through the end of 2026 [2]. This timeline suggests a long-term recovery and growth phase rather than a short-term spike.
“"Bitcoin will grind higher from here; it can’t get much worse."”
Scaramucci's analysis suggests that Bitcoin's value is increasingly tied to the macroeconomic perception of 'store of value' assets. By linking Bitcoin's upside to a specific gold valuation and the stagnation of U.S. legislative efforts, he implies that the absence of restrictive regulation and the rise of inflation-hedging assets create a favorable environment for cryptocurrency growth.
