![\"Skybridge](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/bitcoin.jpg\")
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The founder of Skybridge Capital has doubled down on his $100K bitcoin price prediction. He also believes that bitcoin could reach $500K a coin in the long run. \u201cBut we\u2019ve got some work to do here from a regulatory perspective,\u201d he stressed. The executive also advised how an average investor should get into bitcoin. The founder of investment management firm Skybridge Capital, Anthony Scaramucci, talked about the future outlook for bitcoin Friday in an interview with Melissa Francis on Magnifi<\/a> by TIFIN.<\/p>\n Scaramucci expected the price of BTC<\/a> to reach $100,000 by the end of last year<\/a>. However, he admitted that he \u201cdid not assess the regulatory environment appropriately\u201d after the U.S. Securities and Exchange Commission (SEC) approved<\/a> bitcoin futures exchange-traded funds (ETFs).<\/p>\n \u201cI thought once you had the bitcoin futures [ETFs], you\u2019d end up with the cash pretty immediately. Too much political headwind for that,\u201d he explained. Instead, BTC<\/a> got corrected down to the $40,000 level from its all-time high of $68,892 based on data from Bitcoin.com Markets.<\/p>\n Nonetheless, the Skybridge Capital founder believes that the price of bitcoin could reach $100,000 this year. He opined:<\/p>\n Could it get there this year? Yes. Is it likely to get there over two years? I\u2019m very confident of that. But we\u2019ve got some work to do here from a regulatory perspective.<\/p>\n<\/blockquote>\n \u201cWe got to get the markets to calm down a little bit. We\u2019ve got to get through Covid. But it\u2019s not going anywhere,\u201d he stressed.<\/p>\n The Skybridge Capital founder was also asked what he would do if he were an average investor who has not invested in crypto. \u201cI would buy some,\u201d he promptly replied. However, he added, \u201cI would average in.\u201d<\/p>\n While cautioning that there will be volatility, Scaramucci noted:<\/p>\n The only way you can handle technology like this is to dollar-cost average and buy a little every month.<\/p>\n<\/blockquote>\n Regarding what percentage of a paycheck an average investor should put into bitcoin, Scaramucci advised: \u201cI would pick a number that you are comfortable with and buy a little every month.\u201d He recommends putting between 1% and 4%.<\/p>\n \u201cI put 4% of Skybridge money into bitcoin,\u201d he shared. \u201cI started off with a 4% cost position \u2026 If you talked to me at the peak, it ended up being 22%,\u201d he detailed, adding that it then \u201ctraded down to about a 15% position.\u201d<\/p>\n He continued: \u201cI think you\u2019ve got to be part of that. I think it would be a mistake to be under-invested or zero-invested in blockchain and cryptocurrency.\u201d<\/p>\n Scaramucci also commented on how high the price of bitcoin could reach long term, reiterating his previous prediction that BTC<\/a> could reach $500,000 a coin.<\/p>\n Noting that \u201cThis is early adopting technology,\u201d the Skybridge Capital executive warned: \u201cThis will be very volatile. There\u2019ll be periods of time where bitcoin will crash, down 50 plus percent.\u201d Nonetheless, he emphasized:<\/p>\n But if you\u2019re willing to zoom out and look at the long term chart and look at the adoption story, could bitcoin get to a half a million dollars a coin? I believe it will.<\/p>\n<\/blockquote>\n Scaramucci has been bullish on bitcoin for quite some time. In November last year, he encouraged investors to start buying BTC<\/a>, stating<\/a>: \u201cThis is very, very early for people \u2026 I\u2019m trying to do my best to explain to them why they need to own this right now.\u201d<\/span><\/p>\n
<\/strong><\/p>\nSkybridge Capital\u2019s Founder on Bitcoin Price<\/h2>\n
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How an Average Investor Should Get Into Bitcoin<\/h2>\n
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$500K per Bitcoin<\/h2>\n
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