The American entrepreneur and CEO of SkyBridge, Anthony Scaramucci, said in an interview with CNBC that one Bitcoin will easily trade at $500,000. He said that BTC’s popularity is growing, and millionaires want to acquire the world’s most dominant cryptocurrency. After touching an all-time high of $68,600 on 9 November, Bitcoin held the price level of $63,000 on Monday. With a jump of more than 130% in 2021, BTC is one of the best-performing financial assets.
“Bitcoin and other cryptocurrencies are still at an early stage of adoption.”
According to Anthony Scaramucci, Bitcoin and other digital currencies are still at an early stage of adoption. Former Goldman Sachs’ Executive said that he is trying his best to let people know about the importance of Bitcoin and its potential. “I believe that we are very early. If Cathie Wood is correct, you would have a billion wallets by the end of 2024 and into the middle of 2025. Bitcoin will easily trade at $500,000. Remember, you don’t even have enough Bitcoins for every millionaire in our society to own one coin. JPMorgan says there are 49 million millionaires. You don’t even have enough. So, for me, I’m trying my best to explain to people why they need to own right now,” Scaramucci told CNBC.
Bitcoin’s volatility has declined in the last few months.
Despite the exponential growth in the leading cryptocurrency’s price, its critics argue that price volatility is one of its negative aspects. However, the volatility has declined in the last few months. Michael Saylor, CEO of MicroStrategy, one of the largest institutional holders of Bitcoin, believes that BTC’s volatility will decrease in the future amid a jump in its ins