Key Takeaways
- Skybridge noted bitcoin dipped below pre-war levels by June 7 after U.S. and Israeli strikes on Iran.
- Capital shift to AI and miners fleeing reduced crypto volatility, putting pressure on Bitcoin prices.
- Anthony Scaramucci predicts the halving cycle will trim supply and push bitcoin past $100,000.
Bold Scaramucci Thesis: $100K Bitcoin Ahead
Skybridge Capital founder and CEO Anthony Scaramucci remains steadfastly bullish on bitcoin, even as the flagship token endures its narrowest volatility band in five years. He maintains that the halving cycle, which slashes block rewards, will inevitably constrain supply and propel bitcoin back above $100,000.
Yet, in a recent CNBC interview, Scaramucci acknowledged that the cryptocurrency’s price has stagnated near pre-war levels following the start of U.S. and Israeli military strikes on Iran. While bitcoin initially staged a rally and outpaced global equities during the conflict’s opening weeks, its momentum quickly evaporated. As the fighting dragged on, the cryptocurrency surrendered those gains, sliding below pre-war price levels by June 7.
Bitcoin eventually stabilized after the U.S. and Iran reached a diplomatic agreement, but Scaramucci argues three structural headwinds played a far greater role in driving the crypto bear market than the war itself.
“I think there are three things: one, a lot of the miners have transferred computing power over to AI, which disrupted the hashrate,” Scaramucci remarked, noting that the shift muted volatility.
Capital rapidly reallocated from digital assets toward artificial intelligence as yield-hungry investors pivoted to capture the sector’s booming valuations.
Although prominent market analysts project bitcoin will rebound and finish 2026 in positive territory, Scaramucci insists the token is merely reaching the tail end of the bear phase of a four-year cycle. However, critics argue the traditional four-year cycle is obsolete, contending that institutional catalysts like spot bitcoin ETFs have usurped historical halving dynamics to dictate market breakouts.
Meanwhile, Scaramucci emphasized that despite near-term pressure, his team’s optimism hasn’t wavered.
“The real question is are we still bulls on bitcoin, and the answer is resoundingly yes. I think the halving cycle comes in again and we cut the supply of coins again, it will tighten the price, and I think you will see the thing move back up over $100,000,” Scaramucci said.
Source link