- Scaramucci says that Bitcoin will break past $69,000, its all-time high price, which it hit in November 2021 after Gary Gensler opened the floodgates to Wall Street by approving the ETF.
- He is hopeful that an Ethereum ETF will be approved by the May deadline but says that Gensler and Senator Elizabeth Warren will likely devise new excuses to push the deadline as they did with BTC.
The approval of the Bitcoin spot ETF will open the floodgates for institutional investment to flow into Bitcoin, and this will push the top crypto to new all-time highs this year. This is according to Anthony Scaramucci, a Wall Street veteran who, in a recent interview, expressed confidence that an Ethereum ETF is coming by May.
The SEC approved the first batch of spot ETFs this week, and as CNF reported, over $4 billion exchanged hands on the first day in a historic debut for an ETF in the US. Experts have been having their say on what the ETF approvals mean for the industry, and according to the SkyBridge Capital founder, they will push Bitcoin to new highs.
Speaking to a CNBC reporter in the Swiss ski town of St. Moritz, he stated:
I think it is a much broader story for digital property in general, and I think Bitcoin will probably see its all-time high before the end of the year and will likely go through its all-time high by this time next year.
Bitcoin’s all-time high was in November 2021, when it came within touching distance of $69,000. It has struggled to hit these levels again, and the current run is its most bullish since early 2022. BTC currently trades at $45,814 after shedding 4% in the past day, setting an intra-day high just shy of $49,000. And while the trading volume of the ETF was massively impressive, BTC’s overall volume dipped by 22.4% to hit $40.2 billion.
And while Scaramucci is bullish on BTC, his peers are even more optimistic. Cathie Wood believes that a $600,000 BTC price prediction is on the lower side.
Bitcoin to Break $69,000?
Now that the SEC has given the nod to a BTC spot ETF, Scaramucci is hopeful that an Ether spot ETF is coming soon. The agency has until May this year to issue its decision on the ETH ETF applications. However, “The Mooch” says that he wouldn’t be surprised if Gensler and other anti-crypto officials and legislators, led by Senator Elizabeth Warren, found a way to push the deadline or throw out the applications altogether.
The deadline is in May—it would make sense for them to approve it. Could they do procedural things to delay it? Sure. They did that [with Bitcoin], and it cost investors money. I’m hoping that they will approve it in May.
And while Gensler continues to be anti-Bitcoin, the former White House communications director says that the ETF approval is his inadvertent nod to Bitcoin.
The SEC is obviously not endorsing bitcoin but in a weird way they are endorsing bitcoin because they’ve now allowed it from a regulatory point of view to be offered to retail investors with a prospectus.
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