Financier, the CEO of global investment company SkyBridge, Anthony Scarmucci is optimistic about the future of the crypto industry. In a recent interview with CNBC, he mentioned the progress in crypto, such as the improvement of the Lightning Network, the increase of applications, the ease of transactions on the Bitcoin network, the growth of commercial activities, the upcoming Ethereum Merge, which will lower transaction fees, and beyond.
Related: BlackRock Presents Private Bitcoin Trust
Scaramucci predicted that a lot of investors probably are going to sell their Ethers in mid-September when the Ethereum update is scheduled to happen. However, the entrepreneur cushioned people against doing that, as he believes cryptocurrencies are great long-term investments.
Scaramucci assumes it's likely that Bitcoin will go up to $300,000 in the next six years, and it wouldn't matter if a person bought the coin at $20,000 or $60,000.
Scaramucci added that the future is upon us and it's happening sooner than he thought. Commenting on the largest asset manager, BlackRock's entry into the crypto industry, Scaramucci said finally the CEO of the company, Larry Fink saw the institutional demand in crypto. According to him, this would cause a demand shock due to the limited supply of Bitcoin. At the same time, Scaramucci advised not to trade based on emotions and see through the market.