TL;DR Breakdown

• Anthony Scaramucci predicts Bitcoin price would hit $100,000 in 2021
• Scaramucci believes forces of demand and supply will help Bitcoin

Former Goldman Sachs banker and chairman at SkyBridge Capital, Anthony Scaramucci, has predicted that before the end of 2021, Bitcoin price would hit $100,000. This is after previously warning investors of Bitcoin’s notorious volatility.

Scaramucci explained that the demand for Bitcoin has hiked lately. He also revealed that his firm’s investment in Bitcoin is over $500 million.

“We like it,” Scaramucci said in a “Squawk Box” interview. “We have over half a billion dollars in Bitcoin right now. And obviously, our Bitcoin fund started in December. It’s done quite well.”

Scaramucci Bitcoin Price prediction may be right

Bitcoin has already gained 70 percent since the new year began, rocketing to more than $51,000 per unit for the first time on Wednesday. The world’s biggest cryptocurrency also quadrupled last year.

Scaramucci has been optimistic about Bitcoin since he announced that SkyBridge Capital would launch a Bitcoin fund towards the end of 2020. He said after the announcement that BTC is as safe as allocating funds in Gold and bonds while also outlining that Bitcoin is better than the precious metal.

His Bitcoin price prediction came on Wednesday when he was asked to provide his 2021 price target for the cryptocurrency during the interview. Despite referring to BTC’s volatility and warning investors to be wary of it, he was optimistic about the price of the number one crypto by the end of the year.

“I do think we see $100,000 in this coin before year-end,” he said.

Scaramucci highlighted the massive demand for cryptocurrency as of late. He noted that there’s “not a lot of supply out there” while the demand keeps increasing. The former Goldman Sachs banker also spoke about MicroStrategy as one corporation with plans to allocate a lot of money in Bitcoin. MicroStrategy has also announced more plans to raise $900 million to buy more Bitcoin.