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Skybridge Expects Bitcoin to Reach $300K in 6 Years — ‘You Are Going to See a Lot More Commercial Activities’ – Markets and Prices Bitcoin News

Skybridge Capital is “pretty optimistic” about Bitcoin and Ethereum over the next 12-24 months. The founder of a global wealth management firm explains that the world’s largest cryptocurrency could hit $300,000 in six years, telling investors to ‘just relax’ and ‘stay long-term’. I urged you to do it.

Skybridge optimistic about Bitcoin and Ethereum

Anthony Scaramucci, founder and managing partner of global wealth management firm SkyBridge Capital, shared his company’s outlook on Bitcoin and Ethereum in an interview with CNBC on Friday.

Responding to a question about whether the crypto winter is over, he said, “I want to warn people to be discerning about the current environment,” a better-than-expected result. economic data Inflation and unemployment rates announced last week.

“In the cryptocurrency market, it is our belief that most of the leverage is completely out of the system, which means we are seeing a very strong recovery,” Skybridge founder explained. explained in detail.

This is a reminder for investors not to back down, fight their own fears, be patient and stay for the long term.

“Pause. The pandemic has created this havoc. “There’s a good chance we’re going back to a very strong economy with low unemployment and low inflation. That’s probably 6-12 months away. I think the market is starting to realize that,” he said. has detailed.

SkyBridge’s biggest crypto positions are in Bitcoin and Ethereum, he noted, adding that the company also likes Solana and has a “very big position” in Algorand.

Sharing his outlook on Bitcoin in particular, Scaramucci said of the “improvements in the Lightning Network, the increase in applications, and the ease of transacting with Bitcoin.”

There you will see more commercial activity.

On the other hand, “The Merge will come with Ethereum, which will lower transaction fees on that network. “I would warn people not to do that. These are great long-term investments.”

The Skybridge founder emphasized:

In the next six years, when Bitcoin hits $300,000 a coin, it doesn’t matter if you bought it for $20,000 or $60,000. It never really matters.

“And I’m just warning people, the future depends on us. It’s happening sooner than you think,” he continued.

Scaramucci then mentioned black rockIt is the world’s largest asset manager that recently launched a Bitcoin private trust, citing “great” demand from some institutional investors. “Finally, Larry Fink [the CEO of Blackrock] We see the demand for institutions. otherwise he wouldn’t set up those products and Partnership with Coinbase‘ said the founder of Skybridge. “I want to remind people that with only his 21 million bitcoins, there is little supply and demand will be shocked if something like this happens.”

Earlier this month, Scaramucci Said Bitcoin’s fair market value is $40,000 and Ethereum’s is $2,800. he March doubled His firm predicts that Bitcoin will reach $100,000 by the end of this year, and $500,000 in the long term.

Scaramucci discourages people from investing based on emotion, noting that the message he tries to send to investors is to “see through this.”

“If you take the best 10 days out of the market, the return drops from 7.5% to 2%. That’s the stock market as a whole,” he said. “There are a lot of short-lived people, a lot of research departments, and a lot of different communication stations that have canned reactions to things and get overly emotional.”

While emphasizing, we’re trying to tell people, “Just relax and watch this.”

We see a fairly optimistic scenario for Bitcoin, Ethereum, Solana and Algorand over the next 12-24 months.

What do you think of the Skybridge Capital founder’s comments? Let us know in the comments section below.

Kevin Helms

An Austrian economics student, Kevin has been an evangelist since he discovered Bitcoin in 2011. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

image credit: Shutterstock, Pixabay, Wiki Commons, Lev Radin

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