In a recent interview with journalist David Lin, Anthony Scaramucci, the founder of SkyBridge Capital, shared his perspectives on President Joe Biden's evolving stance towards the crypto industry and his bullish outlook on Bitcoin's future trajectory.

Scaramucci expressed his belief that President Biden is gradually warming up to the crypto sector, especially following the approval of spot Ethereum exchange-traded funds (ETF) last week. Despite initial reluctance, Biden's administration is beginning to show signs of flexibility, a shift that Scaramucci attributes to the political landscape and potential voter sentiments in key swing states.

Highlighting the delicate balance between regulatory concerns and political dynamics, Scaramucci emphasized that Biden's team may reconsider its approach to Bitcoin and other crypto assets to avoid alienating supporters and risking electoral outcomes. The recent veto of Staff Accounting Bulletin (SAB) 121, despite opposition from figures like Elizabeth Warren and Gary Gensler, indicates a potential shift towards accommodating crypto-friendly policies.

Regarding Bitcoin's future trajectory, Scaramucci expressed optimism, predicting that the cryptocurrency could surge to as high as $700,000 within the next fifteen years. He pointed out Bitcoin's current adoption rate of only 5% in the United States, highlighting the significant room for growth and potential market expansion.

Drawing comparisons with gold's market capitalization, which stands at $16 trillion, Scaramucci speculated on Bitcoin's potential to multiply its market cap several times over in the coming years. He attributed this growth potential to Bitcoin's unique technical properties and the ongoing trend of increased adoption and acceptance in various sectors.

As of the time of writing, Bitcoin is trading at $69,420, reflecting ongoing market dynamics and investor sentiment. Scaramucci's insights shed light on the evolving dynamics within the crypto industry and the potential for significant growth and policy shifts under the Biden administration's tenure.