Bitcoin's (CRYPTO: BTC) move toward a fresh high of $124,000 has brought renewed attention to comments from SkyBridge Capital CEO Anthony Scaramucci, who predicted on May 14 that the leading digital currency would be recognized as a fully established asset class once it reaches the $500,000 mark.

Bitcoin To Become A $20 Trillion Asset Class?

Scaramucci, speaking at CoinDesk’s Consensus 2025 conference, said, “$3 trillion is like a Mag 7 stock, $20 trillion is an asset class. So if you tell me that Bitcoin can get to $500,000, people will be writing stories that Bitcoin is an asset class.”

He emphasized the importance of Bitcoin matching the market capitalization of gold, which is presently over $21 trillion, in order to be recognized as a separate asset class.

Scaramucci – The Long-Time Bitcoin Supporter

Scaramucci's bullish outlook aligned with his previous statements. Earlier this year, he said that Bitcoin was undergoing a structural transformation, evolving from a volatile tech-aligned investment to a maturing global asset more akin to digital gold.

He has been vocal about his Bitcoin support, revealing previously that 70% of his wealth is tied up in the leading cryptocurrency.

Scaramucci has mixed feelings regarding President Donald Trump’s cryptocurrency policies, asserting that the healthy developments around legislation and regulatory clarity were marred by his family’s involvement in the space.

The leading cryptocurrency hit a new all-time high of $124,000 last week, up more than 23% since the year began.

Price Action:  At the time of writing, BTC was exchanging hands at $115,299, down 0.68% in the last 24 hours, according to data from Benzinga Pro.

Disclaimer: Some elements of the story were previously reported by Benzinga, and the story has been updated.

Disclosure: The article was originally published on Benzinga.com on May 15, 2025.

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