Scaramucci: BlackRock Bitcoin ETF Could Spark $600T Market Cap

Scaramucci: BlackRock Bitcoin ETF Could Spark $600 Trillion Crypto Market

In a recent interview on the popular YouTube channel “Altcoin Daily,” Anthony Scaramucci, the influential entrepreneur and founder of SkyBridge Capital, shared his perspective that Bitcoin’s price could surge to $330,000 if BlackRock approves a Bitcoin exchange-traded fund (ETF).

Scaramucci also argued that if BlackRock approves a Bitcoin ETF, it could attract a staggering $100 billion in institutional investments. 

He argued that this substantial capital influx could result in an eleven-fold increase in Bitcoins evaluation, skyrocketing from a $600 billion asset into a staggering $600 trillion asset. He explained further that the approval could lead to Bitcoin’s value soaring to as high as $330,000 based on the current market price.

He stated:

“Think of the magnitude of that, if there’s $100 billion that flows in bitcoin … that could have an 11-times factor in terms of valuation. So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.”

During the interview, the Skybridge founder addressed his company’s connection with the former FTX CEO Sam Bankman-Fried, who is currently facing trial for money laundering and fraud.

Scaramucci clarified that he had cooperated with the Department of Justice (DoJ) by providing his text messages, emails, and Signal accounts.

However, the DoJ did not consider his testimony necessary, as they did not find any substantial evidence linking him to the alleged illegal activities at FTX.

Scaramucci expressed his views on Bankman-Fried’s role in the FTX scandal, criticizing his excuses and blaming them for the crimes committed.

He emphasized the gravity of the situation, stating that regardless of any justification, having $8.8 billion of customers’ funds in a personal account was unacceptable.

However, Scaramucci speculated that Bankman-Fried might receive a more lenient sentence than some anticipate, as he might use his “youth and inexperience” as a defence for the events that led to the collapse of the crypto exchange.

Also Read: Anthony Scaramucci Supports Crypto Firm Led by ex-FTX US President

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