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Anthony Scaramucci, founder of SkyBridge Capital, expresses optimism regarding the future demand for Bitcoin (BTC) as part of an $84 trillion wealth transfer from baby boomers to younger generations. Speaking at the Bitcoin Investor Day conference in New York City, Scaramucci highlights the generational shift in Bitcoin ownership, noting that younger investors possess more BTC compared to their older counterparts. He predicts a significant increase in demand for Bitcoin over the next decade, likening it to being absorbed into a python, resulting in a surge in demand for the digital asset.
Scaramucci emphasizes the potential for BTC to reach the $1 million mark, drawing parallels to gold’s market cap of approximately $14.5 trillion. Citing predictions from industry figures like Michael Novogratz and Cathie Wood, who envision a $1 million Bitcoin, Scaramucci underscores the potential for Bitcoin to surpass gold’s market cap, even if it trades at a fraction of these estimates. He suggests that Bitcoin’s status as digital gold aligns with its potential growth trajectory, positioning it as a lucrative asset in the years to come.
