SkyBridge Capital’s Anthony Scaramucci predicts Bitcoin could reach $100,000 by the end of 2024, driven by rate cuts and potential pro-crypto legislation.

SkyBridge Capital founder and hedge fund manager Anthony Scaramucci predicts Bitcoin (BTC) will reach $100,000 by the end of 2024, driven by U.S. interest-rate cuts and potential pro-crypto legislation.

In an interview with Bloomberg, Scaramucci highlighted that upcoming Federal Reserve rate cuts and bipartisan support for crypto and stablecoin legislation in the next U.S. congressional term could fuel a significant rise in Bitcoin’s value.

“We are going to get pro-cryptocurrency, Bitcoin, and stablecoin legislation in the first part of the next congressional term in the U.S. At the same time, you are intersecting with rate cuts from the Federal Reserve.”

Anthony Scaramucci

A former communications director for Donald Trump, Scaramucci noted the Republican nominee’s recent shift to a pro-crypto stance as he seeks votes in a close race against Vice President Kamala Harris, whose position on crypto is less defined.

Despite the ambiguity, Scaramucci expressed optimism about the regulatory landscape under a potential Harris administration, citing positive discussions with her campaign team. The SkyBridge Capital head expects the Federal Reserve to cut borrowing costs by half a percentage point, with up to 150 basis points of cuts in the next 18 months. He believes such moves will be favorable for asset prices globally, including Bitcoin, which has already risen 5% in the lead-up to the Fed’s policy decision.