ChainCatcher reports that Anthony Scaramucci, founder of hedge fund Sky Bridge, said in an interview on Wednesday that the Federal Reserve is likely to cut interest rates by 50 basis points this evening, part of a total rate cut of at least 150 basis points over the next 18 months. He believes this will be good for asset prices in both the US and globally.

Driven by a series of rate cuts from the Federal Reserve and greater clarity on US cryptocurrency regulation, Bitcoin will hit a new all-time high of $100,000 by the end of the year.

Scaramucci believes that legislation supporting cryptocurrency, Bitcoin, and stablecoins will be passed early in the next Congressional term. This legislation will be bipartisan, supported by both Democrats and Republicans. He is also optimistic about the prospect of the Harris administration regulating cryptocurrency, as an advisor to her campaign has indicated that she will support measures that help the industry grow while maintaining appropriate safeguards.