Why Anthony Scaramucci sees Bitcoin hitting $500,000

Bitcoin believers have heard it all before — the crashes, the “it’s over” declarations, the skeptics dismissing it as a fad. Yet SkyBridge Capital founder Anthony Scaramucci insists that when it comes to Bitcoin, the biggest mistake you can make is underestimating how early we still are.

“I predict that Bitcoin will probably get to $500,000 over the next five or six years. But could we have a 40% correction between now and then? Certainly. So you know, you got to be ready,” Scaramucci told Coinage.

For him, volatility is the price of admission. Across his 37 years on Wall Street, he’s seen nine crashes, each one billed as a “10,000 year flood.” Yet every time, markets have found a way forward. The same, he argues, applies to Bitcoin.

“Be a long-term investor, recognize there will be volatility and likewise there’ll be shortcomings. But if you’re making the point that more assets are flowing and more capital is going to flow into this space, which may curb some of that volatility or may end the four-year cycle of Bitcoin that we’ve experienced over the last 15 or 16 years. I accept that, but I still want people to be cautious.” That caution also comes with conviction.

“If you have a great asset and I believe Bitcoin is a great asset, hold the asset,” he said. Reflecting on his own career, Scaramucci added, “I sold Apple, I sold Amazon, I sold Microsoft, I sold Nvidia when it was a gaming company, and I didn’t really understand it… The mistakes I’ve made in my career is I’ve sold great assets too early… Learn from my 37 years on Wall Street, learn from my mistakes.”

Scaramucci believes the bull case remains enormous. If anything, he argues, Bitcoin’s adoption is still barely scratching the surface. At his 35th Goldman Sachs reunion, Scaramucci posed a simple question: how many were long Bitcoin?

“Nobody. Then I asked a follow up question. Well how many of your kids are long bitcoin. A few people raised their hand for that but not many… We’re in our own little soup. We’re in our own little fishbowl staring at each other. And we think everybody’s a coiner, but nobody’s a coiner.”

That gap between perception and reality is what he believes creates the biggest opportunity — and the biggest risk. “Don’t expect good times forever. We’re having a good run right now. I don’t think you or I would think that there’s not going to be a crypto crash coming. You have to know that that will happen.”

In other words: the path to half a million dollars per coin may be paved with gut-wrenching drawdowns.

But for Scaramucci, the lesson is clear. Think longer-term.

This story was originally reported by TheStreet on Aug 29, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

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