Market Resurgence Could Send Bitcoin to $1M, Says SkyBridge Capital Managing Partner Anthony Scaramucci

SkyBridge Capital Managing Partner Anthony Scaramucci has weighed in on what it would take for Bitcoin to reach $1 million.

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SkyBridge Capital Managing Partner Anthony Scaramucci has weighed in on what it would take for Bitcoin to reach $1 million.

Cryptocurrency regulations play a critical role in Scaramucci’s analysis.

President Donald Trump’s involvement in the industry has threatened to derail the progress of cryptocurrency bills.

as the industry prepares for what could be a pivotal few months with the potential for significant cryptocurrency legislation and President Donald Trump’s involvement in threatening to derail the progress of bills, a market resurgence in recent weeks, investors in Bitcoin, the largest cryptocurrency by market capitalization, have grown increasingly optimistic and $1 million price predictions are again flooding headlines. Recently, SkyBridge Capital Managing Partner Anthony Scaramucci has weighed in on what it would take for the asset to achieve this seemingly far-flung dream.

In a segment on Pompliano’s popular ‘Block Interview’ series, which features the likes of billionaire investor Mark Cuban and Bridgewater Associates founder Ray Dalio, Scaramucci was asked about his thoughts on where Bitcoin’s price discovery journey will take the asset next.

"I think it's going to take a broader participation in the asset class from bigger players. So I think we're going to need to see some of the big sovereign wealth funds come in more broadly into crypto. I don't think they're involved enough yet. I think we're going to need to see some of the big pension funds come in more broadly. I think we're going to need to see more capital deployed into the asset class in order for the price to go to these next levels.”

According to the latest figures from the World Bank, the total external assets held by sovereign wealth funds reached a record high of $11.05 trillion at the end of 2023.

Among the U.S.-listed shares of major institutional investors in the Invictus Bitcoin (NYSE:IBIT) S.P.A. (NYSE:BIT)BLK) spot Bitcoin ETF IBIT currently have nearly $351 million, and Abu Dhabi’s Mubadala Investment Co. has 8.2 million IBIT shares worth $479 million.

The post Anthony Scaramucci Reveals Key Factor For Bitcoin To Hit $1 Million, Revealing Involvement Of Trillions From Key Players. first appeared on Benzinga.