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

23 Oct 2023

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, reports. 

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.

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.”