Bitcoin will “easily” reach the price of $500,000, as forecasted by the founder of SkyBridge Capital Anthony Scaramucci on the CNBC, referring to the limited emission of the leading cryptocurrency and the potential number of wealthy investors in it.
There are at least 49 million dollar millionaires in existence, according to JPMorgan, but the digital gold supply is limited to 21 million coins, he noted.
“You don’t have enough Bitcoins for every millionaire in our society to have at least one coin,” Scaramucci said.
He believes the price of the first cryptocurrency will reach the specified mark by the end of 2024 or mid-2025, if Cathie Wood’s forecast comes true. Earlier, the founder of Ark Invest predicted that by this time the number of Bitcoin wallets will reach a billion.
Scaramucci called digital gold insurance against inflation and said that the current level of quotations is still an early opportunity to enter the asset.
“As for me, I am struggling to explain to people why they should own this right now,” added the investor.
Scaramucci said in September Bitcoin might become a global reserve currency.