Anthony Scaramucci, the founder and CEO of alternative asset management firm SkyBridge Capital, has predicted that BTC will see its all-time high before 2024 comes to an end as the United States Securities and Exchange Commission (SEC) has approved the launch of spot Bitcoin exchange-traded funds (ETFs).
During an interview with CNBC, the American financier, who briefly served as the White House Communications Director in 2017, said BTC would likely break its all-time high by January 2025 as the SEC has allowed retail investors access to the leading digital asset.
Scaramucci’s comments come within 24 hours after the U.S. securities regulator greenlighted 11 spot Bitcoin ETFs for listing and trading on the Nasdaq, the New York Stock Exchange (NYSE), and the Chicago Board Options Exchange (CBOE).
The years-long awaited approval will give retail investors access to BTC, providing an alternative to the current financial system and accelerating crypto adoption.
The SkyBridge founder believes, just like the crypto community, that the SEC’s decision is a watershed moment for Bitcoin, stating that the event is a “really big breakthrough for Bitcoin as a digital asset.”
“I think it is a much broader story for digital property in general, and I think Bitcoin will probably see its all-time high before the end of the year and will likely go through its all-time high by this time next year,” the CEO stated.
SEC Weirdly Endorsing BTC
Bitcoin reached its current all-time high in November 2021 during the last bull market. However, the asset’s price collapsed alongside the entire crypto market and several projects when the bear season took the reins in 2022.
The cryptocurrency’s price increased by 150% in 2023, riding on excitement about the spot Bitcoin ETF approval and other upcoming events like the fourth Bitcoin halving, which historically kickstarts bull seasons.
According to Scaramucci, 2022 was “very brutal” for SkyBridge, but 2023 became the best year after the company “incrementally” bought BTC, Ether (ETH), and Solana (SOL). The former White House Communications Director said the SEC is endorsing BTC in a weird way since the agency has allowed investors to add the crypto asset to their brokerage accounts.
When asked if he would purchase the ETFs, Scaramucci replied in the affirmative, explaining that he would be a ceremonial buyer.