SkyBridge Capital’s Anthony Scaramucci remains bullish on despite its recent pullback from a record peak of $74,000, fueled by a broader crypto selloff and the launch of spot Bitcoin ETFs.
In an interview with CNBC, Scaramucci highlighted the rapid influx of over $10 billion in the first quarter alone into Bitcoin, outpacing the growth of the gold ETF (GLD (NYSE:)) which took a year to reach the same milestone.
“Maybe the ETFs played a role in Bitcoin’s comeback. I think we can agree on that. And when Wall Street gets a product like this, it becomes a selling machine, generating lots of demand for the product.”
Scaramucci attributed Bitcoin’s resilience to several factors including its halving mechanism which reduces the number of new coins entering the system, ultimately driving up the price due to scarcity. He remains skeptical of claims that the effects of Bitcoin’s halving and ETF launches have been fully priced…
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