Anthony Scaramucci: It's still profitable to buy Bitcoin

Skybridge Capital founder Anthony Scaramucci explained why traders and investors should not refuse to buy Bitcoin, even if its rate is above $50,000.

At the beginning of the week, the rate of the first cryptocurrency exceeded $50,000, after which many traders wondered: did they miss the opportunity to buy Bitcoin? Anthony Scaramucci believes that Bitcoin is still a good buy. According to him, a stunning bull rally is approaching.

The founder of Skybridge Capital named three key factors that should contribute to the growth of Bitcoin. First of all, this could be a reduction in the key rate in the United States, which will increase the attractiveness of Bitcoin and other cryptocurrencies for investors.

Another reason is the growing demand for spot Bitcoin-linked exchange-traded funds (ETFs), which are attracting billions of dollars in cash flows. The third prerequisite for growth is the upcoming halving of the reward for miners, which is scheduled for April.

With #Bitcoin back over $50k, average investor again wondering: “did I miss buying opportunity?” Answer is hard “no.” Interest rates falling, spot ETFs driving billions in new flows, halving two months away. Face-ripping rally incoming IMO.

— Anthony Scaramucci (@Scaramucci) February 12, 2024

Scaramucci is confident that the increase in the number of addresses in the Bitcoin network and the rapid growth of BTC popularity around the world is also a powerful catalyst for growth. Previously, the head of Skybridge Capital said that the most effective strategy when investing in Bitcoin is “buy and hold,” that is, long-term investment.

In January, Scaramucci suggested that Bitcoin would rise above $170,000 as early as mid-2025 if its rate remained at its current level before the April halving.