Anthony Scaramucci, the founder and CEO of SkyBridge Capital, has predicted that Bitcoin (BTC) will reach a new all-time high by the end of 2024 following the U.S. Securities and Exchange Commission’s (SEC) approval of spot Bitcoin ETFs. His comments came shortly after the SEC greenlit 11 Bitcoin ETFs to be listed and traded on major exchanges such as Nasdaq, NYSE, and CBOE.
Scaramucci highlighted the significance of the SEC’s decision during an interview with CNBC, suggesting that it would allow individual investors to access the leading cryptocurrency, thereby potentially breaking its all-time high by January 2025. He views the approval as a pivotal moment for Bitcoin and a major leap forward for it as a digital asset.
The long-awaited approval is expected to provide individual investors with access to BTC, offer an alternative to the current financial system, and accelerate crypto adoption. Scaramucci, echoing the crypto community, believes this to be a milestone for Bitcoin.
Bitcoin’s price surged by 150% in 2023, fueled by the excitement surrounding the Bitcoin ETF approval and the anticipation of upcoming events like the fourth Bitcoin halving, historically known to trigger bull markets. This follows a significant price drop during the bear market of 2022, which saw the entire crypto market and several projects collapse after reaching an all-time high during the last bull market in November 2021.