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“Days Are Not Far When Bitcoin Will Be Traded For $500K”, Says Founding Member of Skybridge Capital

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Nov 13, 2021

The founder member of Skybridge Capital has been too much optimistic about the future trading price of Bitcoin and believes that the days are not too far when Bitcoin will be traded for a price of US$ 500,000. He suggests investors do whatever they can for obtaining a few Bitcoins for them because the price range of Bitcoin is still at its cheapest level.

According to some people, Bitcoin’s present price range is still at its lowest level. They believe that people are still witnessing the time when Bitcoin can be bought at a cheap price. According to them, there will be times when Bitcoin’s value will go beyond its normal level to an uncommon level. One such person is the founding member of Skybridge Capital, Anthony Scaramucci.

Scaramucci is currently heading Skybridge Capital as its Managing Partner and is well-regarded in the business community of the US. Recently, Scaramucci was seen commenting on the present condition of the national economy of the US at CNBC. During the former US President, Trump’s regime, Scaramucci was part of the Trump Administration and remained Communications’ Director at the White House. However, he resigned from the post shortly after his appointment in 2017.

During his interview, he talked about Bitcoin as well. When he was asked to comment upon the present value of Bitcoin, he said the investors are living in the best times. He said that every investor is lucky because he or she can buy a Bitcoin at a very cheap price. He believes that the present price range of Bitcoin is still in its early stage. He then referred to the statement of Cathie Wood, who is the CEO at Ark Invest, US to endorse Wood’s prediction about Bitcoin wallets. Wood had earlier suggested that there would be more than a billion digital wallets after 3 to 4 years.

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He was of the view that according to his prediction Bitcoin is going to be traded at a price of US$ 500,000. He went on to suggest that at present there is a majority of millionaires who haven’t stepped into the digital currency world. However, only a handful of them has been the owners of Bitcoin and other cryptocurrencies. It is very much possible that after 3 to 4 years, the millions who do not have Bitcoins will try to purchase Bitcoins. But till such time, Bitcoin would have become a rare asset as everyone knows it has a limited supply. Considering that there will be billions of wallets after 3 to 4 years, therefore, Bitcoin’s supply would be scarce. Investors would then be willing to pay even a million-dollar for acquiring only one piece of Bitcoin.

In the end, he suggested that those who can wait and do whatever they can to get a few Bitcoins for them now. They simply cannot afford to treat the time for granted.

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