- Anthony Scaramucci, founder of SkyBridge Capital, predicts bitcoin will reach $140,000 after its next halving based on the stock-to-flow model
- Scaramucci believes more institutional investors will invest in bitcoin as firms like BlackRock get involved, triggering a “fear of missing out”
- Scaramucci cites BlackRock CEO Larry Fink warming up to bitcoin after previously criticizing it as evidence of growing institutional adoption
Bitcoin’s next halving is less than three months away and crypto investors are eagerly anticipating its impact on the bitcoin price. One of them is Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director. Scaramucci predicts that bitcoin will hit at least $140,000 after the halving.
Scaramucci’s Bitcoin Price Prediction
In an interview, Scaramucci stated he believes bitcoin will reach $140,000 after the halving. He based this prediction on the stock-to-flow model popularized by bitcoin analyst PlanB. According to PlanB’s model, the decreasing supply of bitcoin caused by the halving will drive the bitcoin price up significantly.
Scaramucci also praised BlackRock CEO Larry Fink for “[doing] his homework” on bitcoin and changing his mind on the digital asset. In January, Fink said bitcoin was an index of money laundering globally. But last week, he admitted that bitcoin had “caught the attention” of many clients and that BlackRock was studying cryptocurrencies.
Scaramucci: Institutions Will FOMO Into Bitcoin
Scaramucci believes that more institutional investors will jump on the bitcoin bandwagon as they witness firms like BlackRock getting involved in crypto. He expects a “fear of missing out” to take hold driving more institutions into bitcoin.
Scaramucci said: “As more and more of the stalwarts capitulate and give into [bitcoin] — like Fink did last week — you’re going to get a FOMO-type of situation and [bitcoin] starts moving up.”
Conclusion
With bitcoin’s next halving drawing near, crypto investors like Scaramucci are betting on a significant bitcoin price surge afterwards. Scaramucci has predicted bitcoin will reach at least $140,000 – $170,000 based on the popular stock-to-flow model. He also believes that bitcoin’s growing institutional adoption, as evidenced by BlackRock’s change of heart, will trigger a “fear of missing out” and drive more institutions into crypto. It remains to be seen whether his bullish bitcoin predictions will play out after the halving this May.
