SkyBridge Capital founder Anthony Scaramucci expressed his belief that Bitcoin, despite its current volatility and recent price fluctuations influenced by global events, is still in its early stages of adoption and poised for significant long-term growth.

In an interview discussing the trajectory of the leading cryptocurrency, Scaramucci compared Bitcoin's current phase to the early days of the internet, emphasizing its potential for further expansion as it matures as an asset class and regulatory acceptance increases. He also projected that Bitcoin will surpass the market capitalization of gold in the future.

Scaramucci suggested that Bitcoin's stability as an inflation hedge or store of value may only occur once it reaches a billion users, indicating ongoing volatility in the short term due to its position on the adoption curve.

Despite acknowledging that geopolitical tensions and market uncertainties could temporarily affect Bitcoin's value, Scaramucci remained optimistic about its future, particularly with growing institutional interest, including spot Bitcoin ETFs and potential involvement from traditional financial institutions.

Regarding Bitcoin's price potential, Scaramucci forecasted a significant increase in value following the halving event, drawing parallels to its historical performance over the past 15 years and predicting a potential surge to $170,000 or even $200,000 in the long term.

Comparing Bitcoin's investment profile to that of early-stage Amazon, Scaramucci highlighted the substantial gains and extreme volatility, suggesting that Bitcoin could similarly reward long-term investors despite price fluctuations.

Scaramucci also addressed the role of ETFs in Bitcoin ownership and price discovery, dismissing concerns about centralization and emphasizing their importance as a bridge to traditional investors.