Here’s the Signal That Bitcoin (BTC) Is Headed for $500,000, According to Hedge Fund CEO Anthony Scaramucci

Hedge fund veteran Anthony Scaramucci says that Bitcoin (BTC) will hit a six-digit valuation within the next two years.

In a new interview on CNBC, the CEO of global investment firm Skybridge Capital says that the skyrocketing growth in the number of Bitcoin wallets indicates that the flagship cryptocurrency is on track to $500,000.

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“According to Glassnode, there’s probably 245 million wallets out there or accounts related to Bitcoin. When I made or when Skybridge made its first Bitcoin investment, we were talking about 85 million wallets and that was October-November of 2020, so just think of the spectacular growth of the Bitcoin network.”

Scaramucci says that wallets give an overview of people’s trust in Bitcoin.

“As wallets grow and the transactions on the Bitcoin network grow, I think people get more and more confidence in Bitcoin, the ledger of Bitcoin, the accounting of Bitcoin. Somebody like Cathie Wood would say to you, a billion wallets, Bitcoin could easily trade to $500,000 a coin.”

The billionaire is optimistic that the leading digital asset could hit $100,000 by 2024.

“I got it wrong last year because I didn’t anticipate the war or the elongation of COVID, but I do think that there’s no reason why Bitcoin, given the way it’s scaling globally and it’s very hard to get rid of…

Bitcoin’s sort of in the system, if you will, and it’s something because the nature of its decentralization – makes it easy to use around the world.”

At time of writing, Bitcoin is trading for $47,201.10

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