• Wed. Nov 29th, 2023

Famed Fund Manager Says Bitcoin’s Price would Reach $100,000 in the Next 12 Months

Hassan Mehmood

ByHassan Mehmood

Feb 13, 2021

The high flying cryptocurrency has convinced the most Wall Street personalities. Yesterday, the price value was close enough to overturn $50,000. With investments inflows, the market will soon witness price moving above $50,000.

The crypto market has witnessed pushes from traditional entities. For instance, Tesla, the largest electric car maker, dedicated $1.5 billion in the top digital currency. Elon Musk, the CEO of Tesla, has also talked in cryptocurrency favour and his tweets have created bullish sentiments in the crypto markets, sending Bitcoin and Ethereum price values towards new all-time highs.

Skybridge Bitcoin Fund

Anthony Scaramucci, who served as Donald Trump’s communication director, thinks the world largest digital asset would reach $100,000 by 2022. Scaramucci, who is also a famed hedge fund manager, started raising its voice in favour of the top digital currency at the beginning of 2021. At the start of the year, his asset management firm, Skybridge Capital, introduced a Skybridge Bitcoin Fund fund.

During his talk with Yahoo Finance, the fund manager explained that bullish factors, such as support of Jack Dorsey’s payment firm Square and Tesla, made the path easy and secure for the leading cryptocurrency. He predicted Bitcoin would make its path towards $100,000 in the next twelve months. While explaining his point of view regarding the top digital coin, he claimed one billion people would be using Bitcoin in 5 years.

The SkyBridge Bitcoin fund received an aggressive response as it would soon claim $100 million. Before launching the BTC fund SkyBridge Capital researched by more than three years, according to Scaramucci.

After Citibank, he came into the crypto space, and JP Morgan signalled positively and hinted at supporting crypto assets in the future. Payment giant Mastercard revealed in its latest blog post that it would add crypto assets, specifically stablecoins, in its payment operations.

Currently, Bitcoin is trading at $47,154 after a slight decrease of 1.18% in the past 24-hours. In the past seven days, it is up more than 17%. The top digital asset tried to break above $50,000, but it faced resistance. According to market experts, the price would soon go above $50k as the market is bullish after Tesla invested $1.5 billion.

Altcoins, on the other hand, are also jumping high. Ethereum, the biggest altcoin topped new all-time high of $1.871.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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