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Anthony Scaramucci, the founder and CEO of SkyBridge Capital, said Wednesday that Bitcoin (CRYPTO: BTC) would be deemed a full-fledged asset class once it hits $500,000 a piece.
What Happened: The Bitcoin bull, while speaking at CoinDesk’s Consensus 2025 conference, stated, “$3 trillion is like a mag 7 stock, $20 trillion is an asset class. So if you tell me that Bitcoin can get to $500,000, people will be writing stories that Bitcoin is an asset class.”
Scaramucci emphasized the importance of Bitcoin matching the market capitalization of gold, which is presently over $21 trillion, in order to be recognized as a separate asset class.
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Scaramucci suggested that the ongoing influx of capital into the Bitcoin market via exchange-traded funds and the adoption of strategies following Strategy Inc.’s (NASDAQ:MSTR) lead presented an optimistic future for the apex cryptocurrency.
“We may not actually be bullish enough,” he said.
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Despite the political risks associated with crypto becoming a contentious issue in U.S. politics, Scaramucci sees the incentives aligning for bipartisan support. He added, “If you get bitcoin to $500,000, people won’t just say it’s an asset class—they’ll treat it like one.”
Why It Matters: Scaramucci’s bullish outlook aligned with his previous statements. Earlier this week, he said that Bitcoin was undergoing a structural transformation, evolving from a volatile tech-aligned investment to a maturing global asset more akin to digital gold.
Scaramucci has mixed feelings regarding President Donald Trump’s cryptocurrency policies, asserting that the healthy developments around legislation and regulatory clarity were marred by his family’s involvement in the space.
Scaramucci has been vocal about his Bitcoin support, revealing previously that 70% of his wealth is tied up in the leading cryptocurrency.
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