SALT Conference: SkyBridge’s Anthony Scaramucci to Make A Macro Case for Bitcoin (BTC)
Global investment firm SkyBridge Capital is all pumped to kickstart its multi-day SALT Conference starting next week from September 13. The conference will happen at Javits Center, New York City, with an expected attendance of 2000-25000 people.
As per early inputs, the event will major focus on innovations in blockchain, digital assets, and hedge funds. SkyBridge Capital founder Anthony Scaramucci will be leading the discussion thereby making a “macro case for Bitcoin”.
Joining him will be other industry veterans like Ark Invest CEO Cathie Wood and Grayscale CEO Michael Sonnenshein. Speaking to Think Advisor, Scaramucci said:
“I’m going to be attending all the events. It’s important for me to make the macro case for Bitcoin.”
SkyBridge has been in the crypto game for a while. The investment firm has launched its own Bitcoin and Ethereum Trusts for accredited investors with a minimum investment value of $50,000 and $25,000.
Scaramucci: Bitcoin to Touch $100,000
Scaramucci is quite bullish on the Bitcoin price in the coming months. Setting up a bull case for BTC, he expects the world’s largest crypto to double from here onwards by the year-end. Scaramucci said:
“It really comes down to supply and demand. Every month there is incremental demand from institutions, individuals, product rollouts, applications for Bitcoin ETFs, Bitcoin futures ETFs and other crypto-assets ETFs. These coins are going to be quite valuable.”
Interestingly, he compares the Bitcoin price volatility to the Amazon stock (NASDAQ: AMZN) in its early years. Years later “Amazon is one of the most successful investments in history,” says Scaramucci.
Scaramucci is himself invested in Bitcoin (BTC) and entered at a stage when it was trading at $8000-$10,000 levels. Meaning he has already multiplied his BTC investments by 5x. When asked about his advice to retail investors, Scaramucci said:
“If you’re going to own it, own only a small piece of it and don’t look at it. You have to have a three- to five-year horizon … [then] you can do very well.”
Talking about the Wall Street outlook, Scaramucci holds a contrary opinion to many of the market analysts. He expects interest rates to go low even further and the S&P 500 to rise from here. Scaramucci cites excess liquidity as the reason behind this.
But Scaramucci is not the only one to give a $100K price target for Bitcoin. Speaking to Bloomberg, Cahinalysis CEO Michael Gronager made a similar prediction.
Bitcoin could pass $100k before the end of the year says Chainalysis CEO Michael Gronager. He tells @emilychangtv about the grassroots crypto movement that's taking off from Vietnam to Pakistan to Ukraine https://t.co/LEwps8UgOd pic.twitter.com/UwrQmdqjhD— Bloomberg TV (@BloombergTV) September 3, 2021