Bitcoin to Hit New Highs? Hedge Fund Manager Anthony Scaramucci: Fed Rate Cuts and Regulatory Clarity to Be Boosters

Bitcoin to Hit New Highs? Hedge Fund Manager Anthony Scaramucci: Fed Rate Cuts and Regulatory Clarity to Be BoostersHedge fund manager Anthony Scaramucci predicts that Bitcoin will hit new highs, driven by a combination of the Federal Reserve's interest rate cuts and the clarification of US cryptocurrency regulations after the November presidential election. "In the first phase of the next US Congress term, we will see legislation that is favorable to cryptocurrencies, Bitcoin, and stablecoins," the founder of SkyBridgeCapitalLLC said in an interview on Wednesday

Bitcoin to Hit New Highs? Hedge Fund Manager Anthony Scaramucci: Fed Rate Cuts and Regulatory Clarity to Be Boosters

Hedge fund manager Anthony Scaramucci predicts that Bitcoin will hit new highs, driven by a combination of the Federal Reserve's interest rate cuts and the clarification of US cryptocurrency regulations after the November presidential election. "In the first phase of the next US Congress term, we will see legislation that is favorable to cryptocurrencies, Bitcoin, and stablecoins," the founder of SkyBridgeCapitalLLC said in an interview on Wednesday.

Scaramucci believes the coming months will be positive for the cryptocurrency market, citing both the Fed's interest rate cuts and regulatory clarity following the US presidential election. He pointed out that the Fed is expected to cut rates by 50 basis points on Wednesday, with at least 150 basis points of cuts anticipated over the next 18 months. "This will be very positive for asset prices in the US and globally," he added, suggesting that Bitcoin could reach $100,000 by year-end.

Scaramucci also emphasized his preference for bipartisan legislation to ensure stability in cryptocurrency policy. In the fierce race for the White House against Vice President Kamala Harris, Republican presidential candidate Donald Trump has shifted towards supporting cryptocurrencies to attract donations and votes. Harris's stance on digital assets remains less clear.

Scaramucci made these comments while attending a conference in Singapore. His views reflect the optimism of some in the current cryptocurrency market. Despite the uncertainty that still exists, the future trajectory of digital assets like Bitcoin is attracting close attention as expectations of Fed rate cuts and regulatory clarity materialize.