In an interview on CNBC, Scaramucci expressed his confidence that BTC will surpass $69,000 in the upcoming year. However, he also noted that the introduction of spot cryptocurrency ETFs could introduce more volatility to the market.
“I am humbled by my previous predictions. I had anticipated that Bitcoin would reach $100,000 by the end of 2022. With the introduction of Bitcoin futures ETFs in November 2021, I had expected a surge in purchasing. We had also applied for spot ETFs, but faced rejection like many others. We decided against reapplying due to intense competition. Nonetheless, I believe that spot ETFs will eventually be approved, leading to new heights for Bitcoin. As for the timing, I cannot say for certain. However, once the ETF is approved, there will also be selling pressure as some investors may choose to sell their holdings. Nevertheless, by the end of next year, I anticipate a peak in the BTC rate, although there are lingering doubts,” Scaramucci commented.
As Bitcoin adoption continues to grow, Scaramucci has been urging skeptics to reconsider their reservations and adopt a more favorable stance on the cryptocurrency.