In brief
- SkyBridge Capital boss Anthony Scaramucci predicted that Bitcoin will be “between $180,000 and $200,000” by the end of 2025.
- He pointed to supply-and-demand dynamics and institutional interest as major drivers.
- Scaramucci argued that large institutional investors will mainly opt for Bitcoin ETFs over corporate treasuries.
Amid Bitcoin’s roughly 6% pullback this week, former White House communications director Anthony Scaramucci said his firm is targeting a Bitcoin price “between $180,000 and $200,000” by the end of 2025.
Scaramucci, founder and managing partner of investment firm SkyBridge Capital, called this “a cautious price target” in an interview with CNBC at the Wyoming Blockchain Symposium.
He pointed to supply-and-demand dynamics as the primary driver, saying “there’s just way more demand than the issued supply of Bitcoin, or the existing overall supply in the marketplace.”
“I just think it’s a function of buying and only 450 Bitcoin being made by the network per day,” he told CNBC.
In the interview, Scaramucci emphasized the “consolidation and institutional adoption” of Bitcoin over the past year, citing the launch of ETFs by firms such as BlackRock and the growing role of institutional investors.
“If you went to a conference like this three years ago, it was mostly retail investors and CEOs working in the layer-one blockchain space,” he said. “Today, it’s lots more institutional investors.”
Scaramucci predicted that much of this institutional investment “will likely go into the ETFs” as opposed to corporate Bitcoin investment vehicles like Strategy (formerly MicroStrategy), a legacy tech firm which has built up one of the world’s largest Bitcoin treasuries. Scaramucci has previously criticized companies that have adopted Strategy’s tactic of issuing debt to buy BTC for their corporate reserves.
He argued that JPMorgan will choose to buy their Bitcoin via BlackRock’s IBIT Bitcoin ETF, saying “it’s a very secure asset that people trust,” calling it the “purest link to Bitcoin.” This is currently the world’s largest BTC fund as of writing.
Scaramucci isn’t alone in issuing bullish end-of-year predictions. Earlier this week, institutional investor VanEck made a comparable prediction of Bitcoin hitting $180,000 by year-end.
Stablecoins in, CBDCs out
Scaramucci expressed a fairly bullish view about stablecoins, saying they will “bring a wave of technological innovation,” pointing to how they may allow users to avoid credit card fees and some of the other third-party fees which have historically been charged in the payments space.
However, he was less optimistic about the prospects of Central Bank Digital Currencies (CBDCs).
Scaramucci said he thinks CBDCs would be “too intrusive” from a privacy perspective, adding that he prefers dollar-based stablecoins. This is a view shared by his former boss, U.S. President Donald Trump.
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