Skybridge Capital founder: Bitcoin market value may reach $15 trillion and the Federal Reserve system may collapse

Bitcoin is a decentralized digital currency that is not controlled by any government or institution, but is supported by an open, transparent, and immutable transaction ledger. The total supply of Bitcoin is limited to only 21 million, which makes it scarce and inflation-resistant. Bitcoin is considered an innovative, disruptive, and revolutionary technology that has the potential to change the future of money and finance.

Skybridge Capital, a hedge fund firm with $3.5 billion in assets under management, nearly half of which is tied to crypto assets, launched its Bitcoin fund earlier this year and currently manages $310 million in Bitcoin assets.

The company's founder and CEO, Anthony Scaramucci, is a staunch supporter and advocate of Bitcoin.

Anthony Scaramucci worked at Goldman Sachs in investment banking, equities and private wealth management from 1989 to 1996. After leaving Goldman Sachs, he founded Oscar Capital Management and in 2005 founded investment firm SkyBridge Capital.

On July 21, 2017, Scaramucci was appointed White House Communications Director.

In a recent interview, Scaramucci shared his vision for the future of money, specifically highlighting the transformational power of Bitcoin, which he believes could reach a market cap of $15 trillion.

Scaramucci pointed out that the Fed is doing well, but there are fundamental problems in the US financial system, mainly because of the devaluation of fiat currencies. He is worried that the government is spending more than it is earning, and the borrowed money must be repaid in more valuable dollars, which could trigger a recession. Therefore, he believes that the Fed is in trouble in a broken system.

He proposed Bitcoin as a solution because it is an immutable, scarce asset with a transparent transaction ledger.

Not only that, he said that unlike other assets, you can't eliminate the value of Bitcoin through inflation, given that the supply of Bitcoin is fixed. Bitcoin may be the only asset on the planet that has a high demand but the supply cannot be increased. In addition, he has invested hundreds of millions of dollars in the cryptocurrency field, including holding Bitcoin on SkyBridge and his own personal balance sheet.

“[If] you have a higher demand for gold, we will build more mines. But the supply of Bitcoin is always limited.”

Scaramucci predicts that Bitcoin will become a store of value, potentially more valuable than gold, and is convinced that Bitcoin has the potential to reach a $15 trillion market cap despite problems in the U.S. financial system.

In addition, he discussed the challenges of repairing the system, emphasizing that this requires long-term planning, which American politicians lack comprehensive long-term planning in this regard. He believes that other countries, such as China, have clearer and more comprehensive plans for the future.

No one knows where Bitcoin’s price is headed, but Scaramucci stressed that just as gold prices rose when investments poured into gold ETFs, similar trends could emerge when financial institutions get involved in Bitcoin through ETFs.

Scaramucci added that if a Bitcoin ETF allocated $100 billion to Bitcoin, the cryptocurrency’s price could reach $150,000 or $250,000.

Scaramucci is not the only well-known person who is optimistic about the prospects of Bitcoin. Microsoft founder Bill Gates, PayPal co-founder Peter Thiel, Twitter founder Jack Dorsey and others have expressed their appreciation and support for Bitcoin. As more and more institutional and individual investors flock to the crypto market, the price of Bitcoin is also rising.