The founder and managing partner of SkyBridge Capital says that Bitcoin (BTC) is still on track to hit $150,000 before the year is up.
In a new interview with CNBC’s Squawk Box, former White House Press Secretary Anthony Scaramucci doubles down on his prediction for BTC to reach stunning new heights.
“September is typically the worst month for the cryptocurrency businesses. Some of it has to do with tax selling. Some of it has to do with the big run-up that’s taken place in the last couple of months. But I think long term, SkyBridge is still maintaining its $150,000 price target for Bitcoin by year-end.
I think it’s just a function of the way things get bought in the industry. So you’ll see November into December, I think, being good buying periods, and still a tremendous amount of demand for the assets.”
With the crypto market plummeting to start the new week, Scaramucci brushes the crash off as nothing more than typical digital asset volatility.
“I mean, you mean because we’ve got a 3 or 4% drop? It’s just typical volatility. I think we’ve had a big run-up, there’s been a lot of positive announcements, and I think we’re just churning a little bit. But again, there’s been seasonality.
If you look at the 15 years since the inception of Bitcoin, there have typically been September lows. So this is very consistent with that.”
BTC is worth $112,895 at time of writing, down 2.3% in the last 24 hours.
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