# @benzinga on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/C_CBgGENoCC
- **Gondola URL:** https://gondola.cc/posts/22541005-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/legacy-do/cee8340daab02f5e862f1f1b5918c82f0584c22adf5d8284b0d5bac11adcb5e6.jpg
- **Posted:** 2024-08-23T23:54:54.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

Anthony Scaramucci, the CEO of investment firm SkyBridge Capital, said he was pleased with Bitcoin’s progress this year and pinned hopes on the leading cryptocurrency reaching $100,000.

In an interview with CNBC Television, Scaramucci stated, “If you had said to me last year when Bitcoin was in the 30s, that we’d be here in the 60s post-halving — I think most people in the industry would be very happy.” 

One of the most prominent industry advocates in support of cryptocurrencies, Scaramucci recalled how King Crypto was “decimated” in the fall of 2022 and how the regulatory approval of ETFs earlier this year helped boost demand and sentiment.

“ETFs made it safe to go into Bitcoin for lots of institutional investors,” he said. Scaramucci specifically talked about the success of BlackRock’s iShares Bitcoin Trust, which was the largest spot Bitcoin ETF in terms of assets under management.

He also pointed out that 65% of Bitcoin’s price action was driven by ETF purchases, while 35% of it was a function of investors directly buying the cryptocurrency.

On questions about Bitcoin’s divergence from gold, the former White House Communications Director said he doesn’t consider Bitcoin a store of value asset.

“I still see it as an early adopting technology. Could it be a store of value if there are over a billion wallets? Sure. Look at it that way. Is it a future store value? Yes.” Scaramucci emphasized.

#AnthonyScaramucci #bitcoin

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## Credits

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## Tags

bitcoin, anthonyscaramucci

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