Antonio Scaramuccifounder of SkyBridge Capital, predicted that Bitcoin could reach novel all-time highs (ATH) when his preferred presidential candidate wins. He also claimed that cryptocurrencies have “already won” following recent events in the industry.

Bitcoin could surge as high as $250,000 when Joe Biden wins

Scaramucci mentioned during interview in Unchained that he believes that a novel Bitcoin ATH will appear on the market during the second Biden administration if the incumbent US president wins his re-election bid. As for how high Bitcoin can rise, Scaramucci predicts the flagship cryptocurrency will rise in between 170,000 and 250,000 dollars.

The SkyBridge founder also revealed that he will be voting for Joe Biden and stated that the good news for those who support Biden and cryptocurrencies is that the “needle” has moved in a positive direction. Scaramucci tried to dismiss the notion that the current government is anti-crypto, noting that Spot Ethereum ETFs have been approved and there may be more Layer 1 ETFs.

Scaramucci further stated that although Biden vetoed SAB 121, he believes there will be a cryptocurrency bill in the upcoming congressional term that Biden will be willing to sign. Scaramucci is also bullish about Biden’s second term regarding cryptocurrencies because he believes the “anti-crypto nonsense” he believes he is sponsoring Senator Elizabeth Warren AND Gary Genslerwill be a thing of the past.

Interestingly, Scaramucci was White House communications director under former US President Donald Trump, which surprised his support for Biden. Trump had it too recently confirmed his support for cryptocurrencies, suggesting he was more open to Bitcoin and other crypto assets than Biden.

However, despite this, Scaramucci clarified that he does not support Trump because the former US president is “very transactional”. He noted that Trump had an anti-crypto stance when he was still president, and now he has done a complete U-turn, suggesting that Trump may simply support cryptocurrencies because he wants to get votes from the crypto community.

Why Crypto “Already Won”

Scaramucci stated that the cryptocurrency industry has already won because it has overcome Warren and Gensler, which he believes are very similar to Trump and “authoritarian and autocratic.” He also noted how the cryptocurrency industry has overcome Securities and Exchange Commission (SEC) many times in court, and some of them resulted in a verdict Commission to pay fines and be punished by judges.

Scaramucci also stated that there was pressure on the SEC Biden administration and his campaign team, who realized that being anti-crypto was bad for the Biden campaign. Based on these points he outlined, Scaramuci once again confirmed that the crypto industry has won against those who are against cryptocurrencies.

Featured image created with Dall.E, chart from Tradingview.com