SkyBridge Treasury Expands as Scaramucci Reaffirms $150K Bitcoin Prediction

TLDR

• Anthony Scaramucci reaffirms his $150K Bitcoin target by the end of the year despite recent market fluctuations.
• Scaramucci announces plans to add AVAX to SkyBridge’s crypto treasury as part of the firm’s growing digital asset strategy.
• SkyBridge Capital remains committed to Bitcoin and AVAX, with both assets now included in the firm’s treasury.
• Scaramucci highlights Avalanche’s unique subnet capabilities as a major factor in its growing institutional adoption.
• Despite Bitcoin’s volatility, Scaramucci maintains confidence in the cryptocurrency market’s long-term growth and institutional support.

SkyBridge Capital founder Anthony Scaramucci reaffirmed his Bitcoin price target of $150,000 by the end of the year. Despite a recent market dip, Scaramucci remains confident in his forecast. Additionally, he revealed plans to add Avalanche’s AVAX to SkyBridge’s crypto treasury, marking a significant move for the firm.

SkyBridge Founder Reaffirms $150K Bitcoin Outlook

Scaramucci’s $150,000 Bitcoin prediction remains unchanged, despite Bitcoin’s recent volatility. He acknowledged a recent pullback but viewed it as part of the typical market cycle.

Scaramucci also expressed that September’s downturn is not concerning for Bitcoin’s long-term prospects. He stated that, while Bitcoin’s price may dip further, he remains steadfast in his prediction.

The SkyBridge founder noted that Bitcoin’s volatility, though significant, has not dampened institutional interest. “People criticized us when we first invested in Bitcoin at $20,000,” Scaramucci recalled. Yet, he highlighted that institutional buying and the rise of crypto treasuries signal Bitcoin’s increasing adoption and maturity.

Scaramucci Adds AVAX to SkyBridge Treasury

Scaramucci’s decision to add AVAX to SkyBridge’s treasury reflects his belief in Avalanche’s unique blockchain capabilities. He praised Avalanche’s ability to offer customization through its subnet feature, which sets it apart from other blockchains.

SkyBridge’s move to include AVAX in its treasury aligns with the growing institutional adoption of the Avalanche network. Scaramucci highlighted how major companies like Visa, BlackRock, and JPMorgan are using Avalanche for tokenization projects.

Though Avalanche’s market cap is smaller than Ethereum and Solana’s, Scaramucci emphasized its growing institutional support. He mentioned that the addition of AVAX to SkyBridge’s treasury is part of a broader strategy to ramp up tokenization efforts.

SkyBridge’s Strategic Bet on AVAX and Bitcoin

With the addition of AVAX, Scaramucci underscores his belief in a multi-chain future. He rejected the notion that Avalanche will replace Ethereum or Solana, emphasizing that multiple blockchains can thrive together. SkyBridge’s portfolio now includes both Bitcoin and AVAX, with the firm confident in their respective futures.

The addition of AVAX to SkyBridge’s crypto treasury shows Scaramucci’s commitment to diversifying digital asset holdings. It also highlights the firm’s continued belief in blockchain’s potential to revolutionize financial systems.

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