Bitcoin (CRYPTO: BTC) hitting the $100,000 mark before the year is out is still possible, as per Anthony Scaramucci, the founder and CEO of SkyBridge Capital.
What Happened: Scaramucci reiterated his price target, citing Bitcon’s “limited and fixed” supply and rising monthly exponential demand, in an interview with Cointelegraph.
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“As long as I see that, I see those prices rising. So, we’re going to stick with the $100,000 price target,” said Scaramucci.
The entrepreneur is convinced that Bitcoin is growing faster than Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) unit Google, Facebook Inc (NASDAQ:FB), and Amazon.com, Inc (NASDAQ:AMZN).
Scaramucci believes that Bitcoin will reach one billion users by 2025. “This is a technology and a product of the future, and the future is going to come more quickly than people expect,” he told Cointelegraph.
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Why It Matters: Scaramucci said that SkyBridge probably has $650 to $700 million dollars worth of Bitcoin across its product portfolio.
In January, SkyBridge had launched its Bitcoin Fund LP to give mass-affluent investors an investor-grade vehicle for exposure to the apex cryptocurrency.
The following month, Scaramucci had made the $100,000 prediction for BTC, which according to him will be realized by the end of the year.
As per Scaramucci, Bitcoin might be trading as Amazon did between 1997 to 2000 and the apex coin is “scaling to become this apex predator in cryptocurrency."
Price Action: At press time, Bitcoin traded 0.66% lower over 24 hours at $46,825.58.
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