Legendary investor Anthony Scaramucci believes Bitcoin (BTC) has significant untapped potential, particularly with the upcoming halving event this April. Contrary to the market’s current valuation, he suggests that Bitcoin is yet to fully account for the halving’s impact, predicting a price surge up to tenfold from its current level. Drawing parallels with gold, Scaramucci envisions Bitcoin achieving half of gold’s market valuation, signaling a monumental rise in the cryptocurrency’s worth.

This optimism comes amidst the Bitcoin market’s recent milestones, including the introduction of exchange-traded funds (ETFs) that have attracted over $10 billion in new investments, outpacing the growth of Gold ETFs. Despite acknowledging Bitcoin’s volatility, Scaramucci sets a bold price target of $170,000, underlining its potential as a digital counterpart to gold. His advocacy extends to other cryptocurrencies, but Bitcoin’s dominance and its impending halving event remain his primary focus, highlighting a future where Bitcoin’s valuation could soar beyond current expectations.

CNBC