Anthony Scaramucci predicts a catalyst will trigger a Bitcoin boom and says now is a great time to accumulate BTC
SkyBridge Capital CEO Anthony Scaramucci says Bitcoin (BTC) will have a clear bottom once the Federal Reserve stops raising interest rates to lower inflation.
In a new YouTube interview with crypto influencer Scott Melker, Scaramucci says the Fed is on the verge of changing its hawkish policies, which would cause risky assets like Bitcoin to skyrocket.
He predicts that the Fed will soon stop raising interest rates as it will tighten the government’s own debt obligations. He also says the Fed may pause rate hikes as inflation falls.
He adds that if he’s wrong, the economy will plunge into recession and people will invest in bitcoin when the US dollar starts depreciating.
In both scenarios, he says now is the right time to accumulate king crypto.
“It’s impossible for the Fed, if you have $31 trillion in debt on the way to $34 trillion and interest rates are going up, the federal government won’t be able to support their budget with interest at 1 trillion to 1.5 trillion dollars to understand installment payments to all debtors. So that’s number one.
Second, I believe the Fed will announce victory. Inflation will come down because of technology. And they will start cutting interest rates or leading people to lower interest rates, which will make the market boom and Bitcoin boom.
And the third point, and I think that’s the most important point, if I’m wrong about these two scenarios, it’s still a great time to buy bitcoin. Because if we go into a recession and the dollar starts to weaken or people lose confidence in the dollar, they head towards bitcoin.”
Scaramucci is also responding to comments from longtime crypto skeptic JPMorgan CEO Jamie Dimon. Dimon called Bitcoin an “exaggerated scam” when he compared crypto to pet rocks during a CNBC interview while attending the recent World Economic Forum in Davos, Switzerland.
Scaramucci says the criticism is a bullish indicator as traditional financial institutions are threatened by crypto.
11:23: “For me, that was the most optimistic sign. I have not seen [cryptocurrency analyst] Willy Woos 18 different macro green light indicators. But hearing that, and listening to the general consensus of elites in Davos peeing on cryptocurrency, blockchain and bitcoin, I tell you, this is a massive bull sign.”
At the time of writing, Bitcoin is changing hands for $23,133.
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