SkyBridge’s Scaramucci expects Bitcoin to hit six figures by 2024-end

Anthony Scaramucci of SkyBridge Capital predicts that Bitcoin could reach $100,000 by the end of 2024, driven by interest rate cuts and potential pro-crypto legislation.

SkyBridge Capital founder and hedge fund manager Anthony Scaramucci predicts that Bitcoin (BTC) will reach $100,000 by the end of 2024, due to interest rate cuts in the US and possible legal regulations for cryptocurrencies.

In an interview with Bloomberg, Scaramucci emphasized that the upcoming interest rate cuts by the US Federal Reserve (Fed) and bipartisan support for crypto and stablecoin legislation in the upcoming US Congressional term could lead to a significant increase in the value of Bitcoin.

“We will be introducing pro-crypto, pro-Bitcoin and pro-stablecoin legislation in the first part of the next congressional term in the US. You also intersect with the Federal Reserve’s interest rate cuts.”

Anthony Scaramucci

Donald Trump’s former communications director Scaramucci noted that the Republican candidate has recently shifted to a pro-crypto stance as he seeks votes against Vice President Kamala Harris, whose stance on crypto has been less clear.

Despite the uncertainty, Scaramucci expressed optimism about the regulatory landscape under a potential Harris administration, citing positive conversations with his campaign team. The SkyBridge Capital chairman expects the Federal Reserve to lower borrowing costs by half a percentage point, up to 150 basis points over the next 18 months. He believes such moves would be positive for global asset prices, including Bitcoin, which is currently up 5% ahead of the Fed’s policy decision.