Skybridge Founder Predicts Bitcoin’s Multi-Trillion-Dollar Future, Expects Jamie Dimon to Change His Stance

An Optimistic Outlook for Bitcoin

Skybridge Capital founder Anthony Scaramucci recently discussed his optimistic outlook for bitcoin and his expectations for its future in an interview with Bloomberg. Despite the U.S. Securities and Exchange Commission's (SEC) decision on the spot bitcoin exchange-traded fund (ETF), Scaramucci believes that bitcoin will reach a multi-trillion-dollar valuation. He also expressed confidence that JPMorgan CEO Jamie Dimon will change his stance on bitcoin as regulations continue to evolve.

Bitcoin as a Store of Value

Scaramucci sees bitcoin as a store of value and compares it to digital gold. He points out that bitcoin currently has a market cap of $700 billion to $800 billion and believes that if it gains the status of digital gold, its value could reach $10 trillion to $12 trillion in U.S. dollars. Scaramucci predicts that the exponential growth of bitcoin wallets and adoption worldwide will drive its prices higher in the coming years.

Scaramucci has previously predicted that bitcoin could trade at $100,000 a coin, and he still stands by this prediction. However, he advises people to adopt a buy and hold strategy with bitcoin, emphasizing the need for patience due to the potential volatility of the asset.

Bitcoin's Potential Market Cap

Scaramucci echoes the predictions of venture capitalist Tim Draper and Ark CEO Cathie Wood, who believe that the price of bitcoin could reach $250,000 to $500,000 per coin. If bitcoin were to achieve the status of digital gold, Scaramucci estimates that its market cap could reach $3.5 trillion to $4 trillion, considering that gold currently has a $10 trillion market cap. He believes that bitcoin has the potential to reach these levels but acknowledges that it will require time and patience.

Jamie Dimon's Stance on Bitcoin

In response to JPMorgan CEO Jamie Dimon's recent remarks about bitcoin and crypto during a senate hearing, Scaramucci believes that Dimon knows he cannot shut down bitcoin due to its decentralized nature. However, Scaramucci understands Dimon's position as the head of a heavily regulated traditional financial services company.

Scaramucci expresses confidence that Dimon will change his tune about bitcoin once the regulatory environment becomes more favorable. He also cautions Senator Elizabeth Warren, who is known for her negative stance on bitcoin, to do her homework and consider the potential benefits of bitcoin for the unbanked population. Scaramucci believes that bitcoin aligns with Warren's progressive values and encourages her to explore the topic further.

The Future of Bitcoin

Scaramucci remains optimistic about the future of bitcoin and advises people to stay the course. He believes that bitcoin is an early asset in its adoption cycle and that its exponential growth will continue. Despite potential challenges and volatility, Scaramucci sees a multi-trillion-dollar future for bitcoin and expects more widespread acceptance and recognition of its value.

What are your thoughts on Anthony Scaramucci's remarks about bitcoin? Share your opinions in the comments section below.

Frequently Asked Questions

Can I own a gold ETF inside a Roth IRA

A 401(k) plan may not offer this option, but you should consider other options, such as an Individual Retirement Account (IRA).

A traditional IRA allows contributions from both employee and employer. A Employee Stock Ownership Plan, or ESOP, is another way to invest publicly traded companies.

An ESOP is a tax-saving tool because employees have a share of company stock as well as the profits that the business generates. The money you invest in the ESOP will be taxed at a lower rate than if it were directly held by the employee.

You can also get an Individual Retirement Annuity, or IRA. An IRA lets you make regular, income-generating payments to yourself over your life. Contributions made to IRAs are not taxable.

Which precious metal is best to invest in?

This question depends on how risky you are willing to take, and what return you want. Gold is a traditional haven investment. However, it is not always the most profitable. Gold may not be right for you if you want quick profits. If you have time and patience, you should consider investing in silver instead.

If you don’t desire to become rich quickly, gold may be your best option. If you are looking for a long-term investment that will provide steady returns, silver may be a better choice.

Can I buy gold using my self-directed IRA

You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. You can also transfer funds from an existing retirement fund.

The IRS allows individuals contributing up to $5.500 each ($6,500 if married, filing jointly) into a traditional IRA. Individuals can contribute up to $1,000 annually ($2,000 if married and filing jointly) directly to a Roth IRA.

If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts, which are financial instruments based upon the price of gold, are financial instruments. They allow you to speculate on future prices without owning the metal itself. You can only hold physical bullion, which is real silver and gold bars.

How does gold perform as an investment?

Supply and demand determine the gold price. Interest rates can also affect the gold price.

Due to limited supplies, gold prices are subject to volatility. You must also store physical gold somewhere to avoid the risk of it becoming stale.

What is the best way to hold physical gold?

Not only is gold paper currency, but it's also money. People have been using gold for thousands of years to store their wealth and protect it from economic instability and inflation. Investors today use gold to diversify their portfolios because gold is more resilient to financial turmoil.

Many Americans today prefer to invest in precious metals, such as silver and gold, over stocks and bonds. While owning gold doesn't guarantee you'll make money investing in gold, there are several reasons why it may make sense to consider adding gold to your retirement portfolio.

Another reason is the fact that gold historically has performed better than other assets in times of financial panic. The S&P 500 declined 21 percent during the same period. Gold prices increased nearly 100 per cent between August 2011 – early 2013. During turbulent market conditions gold was one of few assets that outperformed stock prices.

One of the best things about investing in gold is its virtually zero counterparty risk. Your shares will still be yours even if your stock portfolio drops. If you have gold, it will still be worth your shares even if the company in which you invested defaults on its debt.

Gold provides liquidity. You can sell your gold at any time without worrying about finding a buyer, which is a major advantage over other investments. Gold is liquid and therefore it makes sense to purchase small amounts. This allows you take advantage of the short-term fluctuations that occur in the gold markets.


  • This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (
  • If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (
  • The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (
  • (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (
  • Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (

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How To

Guidelines for Gold Roth IRA

Start saving as soon as possible to save for your retirement. It is best to start saving for retirement as soon you can (typically at age 50). To ensure sufficient growth, it is vital that you contribute enough each year.

You may also wish to take advantage of tax-free investments such as a SIMPLE IRA, SEP IRA, and traditional 401(k). These savings vehicles allow you to make contributions without paying taxes on earnings until they are withdrawn from the account. These savings vehicles can be a great option for individuals who don't qualify for employer matching funds.

Save regularly and continue to save over time. If you don't contribute the maximum amount, you will miss any tax benefits.


By: Kevin Helms
Title: Skybridge Founder Predicts Bitcoin's Multi-Trillion-Dollar Future, Expects Jamie Dimon to Change His Stance
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Published Date: Wed, 13 Dec 2023 00:30:25 +0000

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