Anthony Scaramucci, CEO of SkyBridge Capital and upcoming Future of Digital Assets speaker, forecasts a substantial rise in the value of Bitcoin and Ethereum, contingent on President Joe Biden winning a second term.

He suggests that favorable policy conditions could drive these cryptocurrencies to unprecedented highs.

Cryptocurrency Surge Predictions

In a recent interview with Unchained, Scaramucci predicted that Bitcoin could reach between $170,000 and $250,000, a nearly 300% increase from its current value. He also projected that Ethereum could rise to between $10,000 and $12,000, marking a 240% increase. These figures, he emphasized, are based on his assessment of market trends and potential regulatory developments.

Institutional Investment as a Catalyst

Scaramucci believes that institutional recognition of Bitcoin as an asset class will be a critical driver of its value. He suggested that demand would surge if large pension funds and consultants began to incorporate Bitcoin into their asset allocation strategies. For example, he mentioned Wisconsin’s recent decision to invest approximately $160 million in Bitcoin, highlighting growing institutional interest.

Election’s Impact on Crypto Market

Linking his optimistic outlook to the upcoming presidential election, Scaramucci speculated that a second term for President Biden could create an environment conducive to new all-time highs for Bitcoin and other digital assets. He argued that the administration’s potential policies might support the growth and stability of the cryptocurrency market.

Hear From Him Directly

Scaramucci’s outlook comes ahead of Benzinga’s Future of Digital Assets event, scheduled for November 19 in New York City. This one-day event will bring together major players in the digital asset industry and institutional investors. Attendees will have the opportunity to network and discuss the future of digital currencies, including the regulatory environment and market trends.

The broader implications of regulatory policies on the digital assets market remain a critical point of discussion. While Scaramucci remains bullish, there is an ongoing debate about how different administrations might influence cryptocurrency regulations.

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