SkyBridge Capital founder Anthony Scaramucci said that long-term investors in the Bitcoin cryptocurrency should not worry about the future value of the asset due to the current correction. He is confident that digital gold will most likely reach the $500,000 price mark in 5 years.
Speaking to Kitco News, the entrepreneur stated that the true value of bitcoin is based on the growing network. In his opinion, sooner or later this asset will surpass gold in its popularity and turn the modern world upside down.
The hedge fund manager is confident that it is too early today to consider Bitcoin as a real competitor to the precious metal, as it took thousands of years for it to reach its current market value. He also emphasized that the current BTC volatility gives investors a chance to successfully enter the market.
According to him, the digital asset is in its infancy and has just begun its journey to becoming the best inflation hedge. Scaramucci noted that in the future, the volatility of the cryptocurrency will be reduced and then he will gain the trust of all mankind.
According to him, the formation period will take several more years, but he is confident in his forecast. Around 2026-2027, the Bitcoin exchange rate will reach unprecedented heights.
The expert stated that it is very important to see what laws and regulations will be adopted in the US and other major states regarding cryptocurrencies. He emphasized that the example of China proved that even a complete ban on digital currencies did not affect the life of the asset. Despite the short-term decline in value, the BTC rate still reached a historical high.
Earlier, the editors of Crypto.ru reported that Scaramucci called the fall in prices on the crypto market on November 26, 2021 only episodic panic. He recommended that investors and traders take advantage of the situations to buy more bitcoin.
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