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BTC SkyBridge Capital founder predicts Bitcoin will return above $100,000, but warns of slow gains.
Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, said he expects Bitcoin to climb again above $100,000, although he warns that the path to rise will be slow. He gave this judgment in an interview with the CNBC program "Squawk Box" on August 18.
Scaramucci described the current market as a clear bear market stage for Bitcoin. Prices have been stagnant for about nine weeks within their narrowest range of volatility over the past five years. He said the consolidation began earlier this year when Iran-related conflicts intensified.
Scaramucci is a Wall Street financier who founded and runs SkyBridge Capital, a New York-based investment firm that manages billions of dollars in hedge funds and crypto-strategy assets. Prior to this, he worked at Goldman Sachs for many years and founded Oscar Capital, which he later sold to Neuberger Berman. He also founded the SALT Conference, one of the most well-known investment events in the global financial community.
Scaramucci reveals three factors that hinder prices
Scaramucci pointed out that there are three main reasons for the sluggish market performance. First, many Bitcoin miners have shifted their computing power to artificial intelligence workloads, which disrupts traditional hash rate dynamics and suppresses price fluctuations. Secondly, investor funds have flowed out of cryptocurrencies and shifted to artificial intelligence-related stocks. Third, the Bitcoin market is following its familiar four-year cycle, with approximately 18 to 19 months away from the next supply halving event.
Despite the continued downturn in the market, Scaramucci remains firmly bullish. "I think you'll see prices come back up above $100,000," he predicted,"but it's going to take a while to bottom out."
Scaramucci said the price decline was milder than in previous bear markets.
Scaramucci pointed out that the current pullback of about 55% from highs is milder than the 75% to 80% decline in the early Bitcoin cycle. In his view, the relatively modest price decline suggests that a larger net buyer is laying out for the next round of gains.
Scaramucci downplayed the short-term impact of the upcoming Clarity Act. While he believes the bill will ultimately help the industry by reducing regulatory uncertainty and expanding bank access, he does not believe its passage will immediately become a price catalyst. He believes that the more important driver remains the ultimate tightening of the supply of new bitcoins after the next halving.
For now, the former Trump adviser is telling investors to be prepared to wait patiently rather than expect a sudden surge. Scaramucci had previously foreseen a decline. In late August 2025-just weeks before Bitcoin hit a peak of $126,080 on October 6-he warned that cryptocurrencies could plummet as much as 40% on their way to its long-term $500,000 target. The subsequent correction was even deeper, with Bitcoin falling by about 50% from its high.
As of this writing, Bitcoin is trading at US$68,480.
