Scaramucci: Biden Wins, Bitcoin Price Could Reach US$250,000
6/25/20242 min read
SkyBridge Capital founder Anthony Scaramucci has made a bold prediction that Bitcoin (BTC) could hit a new record high if his preferred Presidential candidate wins the upcoming election.
Scaramucci claims that the latest developments in the crypto industry indicate that crypto has emerged as a winner.
Bitcoin Could Hit US$250,000 If Biden Wins
NewsBTC reports that, during an interview on the Unchained podcast, Scaramucci expressed his belief that BTC will reach new record highs during a second Biden administration.
He estimates Bitcoin prices could spike to between $170,000 and $250,000 if current US President Joe Biden wins re-election.
The SkyBridge founder not only expressed his intention to vote for Biden, but also highlighted positive trends for Biden supporters and the crypto community.
He pointed to the approval of a spot Ethereum ETF as proof that the current government is not anti-crypto. Additionally, Scaramucci suggested that additional layer-1 ETFs could be coming soon, supporting the crypto market.
Crypto-Friendly Legislative and Policy Developments
Scaramucci also discussed legislative actions affecting the crypto industry. Even though Biden vetoed the SAB 121 bill, Scaramucci is optimistic about the upcoming crypto bill that Biden will sign.
He believes that a Biden second term could bring a more crypto-friendly legislative environment, ending what he calls the anti-crypto nonsense spread by figures like Sen. Elizabeth Warren and SEC Chairman Gary Gensler.
Interestingly, Scaramucci's support for Biden marks a shift from his previous political affiliation. Having served as White House Communications Director under former President Donald Trump, Scaramucci's support for Biden was surprising.
Despite Trump recently expressing support for crypto, Scaramucci criticized Trump as being very transactional, suggesting that Trump's sudden support for crypto may be a strategy to gain votes from the crypto community.
Crypto Industry Triumph
Scaramucci emphasized that the crypto industry has achieved significant victories, overcoming opposition from Warren and Gensler. He compared their approach to Trump's, describing them as authoritarian and autocratic.
Scaramucci highlighted several wins in court against the Securities and Exchange Commission (SEC), where the crypto industry has prevailed, forcing the SEC to pay fines and receive reprimands from judges.
He also claimed that the SEC had faced pressure from the Biden administration and campaign, which realized that its anti-crypto stance was hurting Biden's campaign. According to Scaramucci, this development shows that the crypto industry has successfully navigated and overcome regulatory challenges.
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