Anthony Scaramucci, the founder of SkyBridge Capital, has made some bold predictions for the future of Bitcoin (BTC) and Ethereum (ETH) in the current market cycle. In an interview on the Unchained Crypto YouTube channel, Scaramucci stated that he believes Bitcoin could potentially skyrocket by almost 300%, while Ethereum could see a surge of nearly 240% from their current values.

Scaramucci also made a prediction about the upcoming U.S. presidential election, suggesting that President Joe Biden will win re-election in November over former President Donald Trump. He anticipates that following the election, crypto assets will experience a surge to new all-time highs (ATH).

One of the main drivers of Bitcoin’s bullish trend, according to Scaramucci, could be the increased adoption of the digital asset by institutional investors. He suggested that once someone declares Bitcoin an asset class, it will open up significant demand for Bitcoin within institutional tactical asset allocation portfolios. Scaramucci cited the example of the state of Wisconsin, which recently announced that it holds about $160 million worth of Bitcoin as part of its institutional asset-allocated portfolio.

As of the time of writing, Bitcoin is trading at $64,163, experiencing a slight decrease in the last 24 hours, while Ethereum is trading at $3,531, slightly up in the last 24 hours.

Scaramucci’s predictions and insights point to significant potential for growth and adoption of Bitcoin and Ethereum, along with the broader cryptocurrency market. However, it’s essential for investors to conduct their own due diligence and be aware of the risks associated with high-risk investments in the crypto space. The Daily Hodl does not offer investment advice and encourages individuals to exercise caution when engaging in cryptocurrency and digital asset investments.