SkyBridge Founder Predicts 50 Basis Point Rate Cut, Bitcoin to Hit $100,000 by Year's End

Anthony Scaramucci, founder of hedge fund SkyBridge, said in an interview on Wednesday that he expects the Federal Reserve to cut interest rates by 50 basis points this evening, part of a total 150 basis point reduction over the next 18 months. He believes this will be positive for asset prices in the US and globally.

Scaramucci predicts Bitcoin will hit a new all-time high of $100,000 by the end of the year, driven by the Fed's rate cuts and clearer regulations in the US cryptocurrency sector.

He expects bipartisan support for legislation in the upcoming Congress that would support cryptocurrency, Bitcoin, and stablecoins. Scaramucci is also optimistic about the Harris administration's approach to crypto regulations, as an advisor to her campaign has stated that she will support measures that help the industry grow while maintaining appropriate safeguards. (Golden Ten)