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Skybridge Boss Scaramucci Predicts Bitcoin’s Value Could Multiply 11-fold With Blackrock’s ETF Approval Skip to main content

Skybridge Boss Scaramucci Predicts Bitcoin’s Value Could Multiply 11-fold With Blackrock’s ETF Approval

Anthony Scaramucci, founder of Skybridge Capital, believes that if the U.S. Securities and Exchange Commission (SEC) approves Blackrock’s spot bitcoin exchange-traded fund, the value of bitcoin could surge significantly. Scaramucci also discussed Sam Bankman-Fried, the former head of FTX, and Gary Gensler, the current chair of the SEC.

Scaramucci Shares His Bold Bitcoin Prediction, Discusses SEC Chair Gensler and Former FTX Chief Bankman-Fried

Scaramucci, who is optimistic about bitcoin, recently spoke with Altcoin Daily about various crypto-related topics. The American financier touched on Blackrock’s Bitcoin ETF, mentioning he was its first external investor. He also addressed the situation with Sam Bankman-Fried, the former FTX chief who owned a 30% stake in Skybridge Capital. Scaramucci said he’s negotiating with the bankruptcy estate and has no plans to testify in Bankman-Fried’s trial.

The Skybridge leader stated he spent approximately four hours with the Department of Justice (DOJ), who informed him that his testimony wasn’t required. “I’ve been very public that I think he’s a fraud,” Scaramucci candidly said about Bankman-Fried. “Sam equivocated his ADHD and his sloppiness and his disorganization as a cover for the crimes that were being committed,” Scaramucci told Altcoin Daily. “You can’t have $8.8 billion of your customers’ money in your personal account no matter what your excuse for that, you cannot do that.”

Scaramucci continued:

I think the sentence will be lighter than people expect … because he’s a young man.

Regarding BTC, Scaramucci predicted that if Blackrock’s spot bitcoin ETF receives approval, bitcoin’s valuation could multiply by 11. He theorized significant capital inflows if ETFs from leading financial entities gain SEC approval. “Think of the magnitude of that, if there’s $100 billion that flows in bitcoin that could have an 11-times factor in terms of valuation,” Scaramucci remarked. “So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.”

Moreover, Scaramucci mentioned his acquaintance with Gary Gensler from their time at Goldman Sachs. At Goldman, Scaramucci worked in various roles, including investment banking, equities, and private wealth management. Scaramucci described Gensler, now SEC chair, as “roundly disliked” during his Goldman tenure. He speculated that Gensler might have felt slighted by Bankman-Fried’s generous spending in Washington.

Labeling Gensler as “sanctimonious righteous,” Scaramucci predicted he still might pose significant challenges for the crypto sector for some time. “It almost seems like Gary Gensler is so narrow-minded when it comes to crypto regulation, because you look back at his MIT teachings from 2018, he seems to get crypto early on before a lot of other people did,” Scaramucci commented.

What do you think about Scaramucci’s commentary? Share your thoughts and opinions about this subject in the comments section below.

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