NEW YORK — Anthony Scaramucci, founder of SkyBridge Capital, reaffirmed his bullish Bitcoin price target of $180,000 to $200,000 by the end of 2024, undeterred by recent market volatility. In an interview on Monday, August 19, 2024, Scaramucci told CoinDesk, “We’re still very confident in our $180K to $200K year-end target for Bitcoin,” pointing to robust institutional demand and regulatory tailwinds as key drivers. With Bitcoin trading at $113,260, his forecast implies a potential 60% to 76% surge in the next four months.
Scaramucci’s optimism hinges on the success of spot Bitcoin ETFs, which have amassed $90 billion in assets since their January 2024 launch, led by BlackRock’s iShares Bitcoin Trust. He highlighted that 1,800 institutions, including Harvard’s endowment, now hold BTC, with inflows averaging $300 million weekly, per CoinDesk. “The institutional wave is just beginning,” he noted, also citing the GENIUS Act’s stablecoin framework as a boost for crypto adoption. Scaramucci dismissed concerns about short-term price dips, arguing that Bitcoin’s 1,000% rise since 2018 reflects its staying power.
Key factors supporting his prediction include:
- ETF Momentum: $12 billion in net inflows to Bitcoin ETFs in Q3 2024.
- Regulatory Clarity: The GENIUS Act stabilizing the $289 billion stablecoin market.
- Global Demand: Bitcoin’s role in the $20 trillion underground economy.
Skeptics, including posts on X from @CryptoCriticX, warn that regulatory risks and macroeconomic factors like U.S. tariffs could cap gains. Yet Scaramucci’s track record, including a correct $100K call in 2023, lends weight to his outlook. As Bitcoin’s market cap nears $2.4 trillion, the crypto market awaits year-end developments to test his bold projection.
