SkyBridge Capital founder Anthony Scaramucci believes that if Balckrock receives approval to launch a spot Bitcoin ETF, it could cause Bitcoin’s value to multiply as much as 11 times.

The politically connected entrepreneur — who is also the founder and chairman of SALT, a global conference series that covers finance, economics, and geopolitics — argues that a BlackRock greenlight could cause a massive $100 billion in institutional investments.

This would turn Bitcoin (BTC) into a $600 trillion asset.

Speaking on the YouTube channel “Altcoin Daily” hosted by the Arnold brothers, he mentions how this imminent approval can spike the price of Bitcoin.

“Think of the magnitude of that, if there’s $100 billion that flows in bitcoin … that could have an 11-times factor in terms of valuation. So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.”

Anthony Scaramucci, founder, SkyBridge Capital

Extrapolating the current price of Bitcoin, Scaramucci added that a BlackRock ETF approval could see Bitcoin potentially go as high as $330,000.

On Sam Bankman-Fried

In the segment, Scaramucci also spoke about his company’s association with former FTX CEO Sam Bankman-Fried, who is currently on trial for money laundering and fraud. 

Scaramucci’s name was brought up on Go to Source to See Full Article
Author: Julius Mutunkei

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