Anthony Scaramucci Says Bitcoin Will “Easily” Reach $15 Trillion Market Cap When BTC Hits $28,000 ⋆ ZyCrypto

In a stunning turn of events, Bitcoin surged back above $28,000 on Monday as investors priced in the SEC’s possible approval of several pending spot Bitcoin ETF applications. The electrifying rally has sparked or exceeded optimistic calls for the pioneer cryptocurrency to reach $15 trillion in market capitalization.

Bitcoin’s Path to a $15 Trillion Market Cap

SkyBridge Capital founder and managing partner Anthony Scaramucci is extremely bullish on Bitcoin. According to CoinGecko data, the former US politician now believes that Bitcoin has the potential to grow a whopping 2,662% from its current market cap of around $546 billion.

“I think Bitcoin could easily be a $15 trillion asset,” Scaramucci said in a recent interview, and he expects Bitcoin to “easily be a $15 trillion asset” in the coming years amid the broken U.S. financial system -dollars will be”. According to the business tycoon, Bitcoin is “more valuable than gold” and could become a store of value. Scaramucci pointed out that “we own a lot of Bitcoin here” for these reasons.

Bitcoin (BTC) saw a 4.8% increase in the last 24 hours, rising to over $28,138 at the time of publication. The rapid increase comes after a major legal update to Grayscale’s Bitcoin spot ETF efforts. As ZyCrypto previously reported, the Securities and Exchange Commission has not appealed an August court ruling related to blocking Grayscale’s ETF application.

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Many have predicted a steep rise in #Bitcoin. Here are some triggers as to why:

ETF, halving, Fed easing, increasing appetite for hard assets as US deficit takes center stage among investors, inclusion in model portfolios. The ETF is huge because it essentially eliminates…

— Anthony Scaramucci (@Scaramucci) October 16, 2023

Scaramucci’s Bitcoin market cap prediction of $15 trillion means a price of over $700,000 per coin when taking into account the hard cap of 21 million.

Elsewhere in the crypto market

Ethereum (ETH), the second most valuable cryptocurrency, recorded a 4.0% increase and reclaimed support above $1,618.

The rest of the cryptocurrency market took a cue from the rise in Bitcoin and Ethereum and posted broad rallies.

The total capitalization of the crypto market increased by 4.0% since yesterday to around $25 billion. The strongest upside came from Solana as the FTX bankruptcy crowd staked out around 10% of its massive holdings over the weekend, easing worries about a possible sell-off. SOL rose by 7.8%, making it the best performer among the top ten cryptocurrencies in the market.

BNB, the native token of the global Binance exchange, also saw a rally today after the company released a whopping 2.14 million BNB tokens worth $453 million from circulation in its 25th quarterly burn event had taken.

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