SkyBridge CEO: Positive Outlook for Bitcoin as Supply Overhang Wanes

IconCryptoNewsTerminal Staff22 Aug, 2024

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SkyBridge CEO: Positive Outlook for Bitcoin as Supply Overhang Wanes

Scaramucci, founder of US hedge fund SkyBridge Capital, believes that "the overhang for Bitcoin has been mostly exhausted," indicating a positive outlook for the cryptocurrency's price. He adds that Bitcoin is still in its early stages and once its user base expands significantly, it can be perceived as a store of value. Despite the slower adoption and regulatory hurdles, Scaramucci maintains his optimistic view, predicting that Bitcoin will eventually reach $100,000.