Anthony Scaramucci, the founder of SkyBridge Capital, predicts that President Joe Biden will cater to the crypto industry, even if it contradicts the preferences of SEC Chair Gary Gensler.
In an exclusive interview with journalist David Lin, Scaramucci suggests that Biden is shifting his views on Bitcoin and crypto after the recent approval of spot Ethereum exchange-traded funds (ETF).
The experienced hedge fund manager believes that Biden may risk losing votes from swing states if he ignores the demands of anti-crypto figures like Elizabeth Warren and Gary Gensler.
Despite the veto of Staff Accounting Bulletin (SAB) 121 by the Biden administration, the approval of Ethereum-related measures indicates a potential shift in attitude towards Bitcoin and other crypto assets.
Scaramucci is optimistic about the future of Bitcoin, predicting that it could reach as high as $700,000 in the next 15 years. With only 5% adoption in the US, he sees significant potential for growth and compares Bitcoin’s market cap to gold’s.
Currently, Bitcoin is trading at $69,420.
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