Anthony Scaramucci, the founder of SkyBridge Capital, forecasts that Bitcoin could reach $200,000 by the end of 2025. The key factors supporting this surge include the US strategic crypto reserve initiatives, global adoption, and the rise in institutional interest.

According to Scaramucci, this prediction is driven by the US’s moves towards establishing a strategic crypto reserve, the increase in global adoption, and the growing interest from institutional investors.

Scaramucci suggested in an interview evaluating the first 30 days of Donald Trump’s presidency with Saxo Bank, that the US is on the brink of forming a strategic crypto reserve with Bitcoin. He highlighted that ongoing bipartisan discussions led by figures like David Sacks constitute the foundation for this initiative, with Sacks doing a commendable job in making a strategic crypto reserve a bipartisan issue. However, Scaramucci noted that the reserve may not be on the scale expected by Bitcoin users. Additionally, he expressed certainty in the establishment of a Bitcoin regulatory framework in the US by the end of the year, which he believes will be part of a global adoption trend and support Bitcoin’s growth. Insisting that it’s clear what Americans will do for the rest of the world, Scaramucci claimed that many countries are already positioning themselves, suggesting that this development will have a domino effect on international markets.

Scaramucci, optimistic about Bitcoin’s value, stated that increasing institutional interest and its potential as an alternative to gold could drive its price up. He said that Bitcoin reaching $200,000 by the end of this year would represent a return of about 100% from its current level and could push its total market value to $4 trillion. Scaramucci argued that for Bitcoin to truly become an asset class, it must operate in the range of $15-20 trillion and could potentially rival gold as a store of value in the long run. Despite acknowledging the inherent uncertainty in Bitcoin’s price movements, Scaramucci maintained his optimism about its growth potential, stating, “If I’m right, we’ll have another great year.”

Speaking about cryptocurrency projects other than Bitcoin and Ethereum, Scaramucci shared his views. He highlighted Solana as one of the most promising networks for supporting and scaling decentralized applications and revealed that SkyBridge has a “nine-figure” investment in this network. Calling himself a major Solana supporter, Scaramucci noted Avalanche and Polkadot as noteworthy projects due to their potential to support asset tokenization.

Comparing the development of the cryptocurrency market to the Internet revolution of the 1990s, Scaramucci contended that despite the crash in Web1, those who held on became very wealthy, suggesting a similar process is currently unfolding in the crypto and AI sectors.

SkyBridge’s crypto-focused ETF outperformed many competitors last year, delivering a 150% return. Launched in 2021, this ETF aims to indirectly reflect Bitcoin’s performance by tracking companies like Bitcoin miners, MicroStrategy, and Coinbase. Following a market crisis in 2022, the ETF has recovered and recently reached $18 per share. Scaramucci indicated that they purchased this share at $3 or $4 and it has now climbed back to $18, with a price target of $35-36 for this year. Emphasizing the strategic nature of the ETF, Scaramucci highlighted that they actively manage investments in different components of the digital ecosystem, such as Bitcoin miners and publicly traded companies like MicroStrategy.