SkyBridge Capital founder Anthony Scaramucci announced that he maintains his bullish expectation despite the recent sharp correction in Bitcoin, the largest cryptocurrency by market value. Scaramucci, who listed five main reasons supporting his view in his post on the
He maintained his view despite selling pressure
According to Scaramucci, Bitcoin remains one of the strongest hedges against currency depreciation. The investor pointed out that the supply limit of 21 million was determined by code and argued that this differed from traditional monetary systems that can be changed by political decisions. This assessment seems to have gained more importance after the US national debt rose above 37 trillion dollars.
While Scaramucci described Bitcoin as “the only asset that no government can devalue,” he emphasized that the 21 million supply limit is protected by code, not promises.
Another element that stood out in the news was the evaluation of the reason for the current withdrawal. Scaramucci stated that the decline was mainly due to forced sales. According to him, miners’ selling to cover their expenses and the unwinding of leveraged positions created short-term pressure on the price.
Emphasis on institutional infrastructure
Scaramucci also said that the institutional market infrastructure established since 2024 has not disappeared with the price drop. SkyBridge Capital is known as an asset management company focusing on alternative investments, and Scaramucci has long stood out with his optimistic statements, especially about Bitcoin.
Scaramucci said, “The institutional infrastructure built since 2024 will not disappear just because the price dropped. This base is permanent.”
The investor also suggested that Bitcoin has significant upside compared to gold. In his assessment, even if Bitcoin took on even a small fraction of the role that gold has in global portfolios, the impact could be greater than a limited increase.
He sees the period of fear as an opportunity
Scaramucci’s fifth topic was about market sentiment. The investor argued that periods of peak pessimism often offer attractive entry points. This approach began to be discussed again in the market, whose risk appetite weakened after the last decline.
Scaramucci, who previously predicted that Bitcoin would reach 170 thousand dollars by mid-2026, said that the 200 thousand dollar level could be seen in 2026 if regulatory clarity increases. While these targets seem quite ambitious at this stage, as Bitcoin has fallen nearly 50 percent from its last peak, Scaramucci expects a more limited recovery in the near term.
70 thousand dollars expectation for the end of July
In a recent episode of the All Things Markets podcast, Scaramucci and Galaxy Digital CEO Mike Novogratz stated that Bitcoin could regain the $70,000 threshold by the end of July. Galaxy Digital operates as an institutional company offering digital assets and blockchain-focused financial services.
If this scenario occurs, it is considered that the upward expectations, which weakened after the last correction, may gain strength again. However, the opinions contained in the news do not reveal a definitive conclusion regarding the direction of market movements; it merely reflects Scaramucci’s reading of the current picture.
