Hedge funder Anthony Scaramucci says Bitcoin could soar much higher in the current cycle.
In a new interview with Yahoo Finance, the founder of alternative investments firm SkyBridge Capital says Bitcoin could easily break through the $100,000 mark.
The former White House Communications Director argues that the ongoing monetary debasement, which is likely to increase the dollar supply by 40% in the coming 12 months, has made Bitcoin an attractive store of value.
Given the macroeconomic backdrop, he says BTC could hit $100,000 by February 2022.
“We have 23.6% more dollars in production and in our money supply than we did six months ago. And if you really analyze the $1.9 trillion stimulus, it’s very likely that we’ll get another 17% more dollar production. So you’ll be sitting here in a 12-month period of time you’ll have 40% more dollars or 40% more fiat currency. And so if you’re looking at dollars in your bank account you’re like