Bridge Capital Founder: Holds a Significant Amount of Bitcoin, Sticks to End-of-Year Bitcoin Price Target of $180,000-$200,000

BlockBeats News, August 20th. SkyBridge Capital founder and CEO Anthony Scaramucci reiterated on Tuesday that despite the recent market correction, he still maintains his year-end price target for Bitcoin between $180,000 and $200,000. In an interview with CNBC, Anthony discussed the current state of the Bitcoin market:

“I think the market is currently undergoing a lot of consolidation, while institutions are continuously entering. If you attended a similar conference three years ago, most attendees were retail investors and some CEOs doing Layer1 blockchain. But today, more attendees are institutional investors,” he said. Some large investors are selling their Bitcoin holdings, leading to some consolidation in the market. However, he remains optimistic about Bitcoin in the medium term, citing that demand exceeds supply.

Anthony himself and his SkyBridge fund hold “a lot of Bitcoin.” Previously, he has also stated that 70% of his wealth is tied to Bitcoin. In May this year, he predicted that once the price of Bitcoin reaches $500,000, it will be recognized as a distinct asset class, similar in status to gold. He also pointed out that the Bitcoin price trend is driven by limited supply and institutional demand for allocation, the latter aiming to hedge the risk of US fiscal policy through Bitcoin.