The SkyBridge Capital founder and former White House communications director Anthony Scaramucci said he expects Bitcoin to climb back above $100,000, though he warns the path higher will be s
The SkyBridge Capital founder and former White House communications director Anthony Scaramucci said he expects Bitcoin to climb back above $100,000, though he warns the path higher will be slow.
He delivered the verdict during an appearance on CNBC’s Squawk Box on Aug. 18.
During the interaction, Scaramucci described the current market as a clear Bitcoin bear phase. Prices have remained stuck in the tightest volatility range of the past five years for roughly nine weeks.
He said the consolidation began around the time conflict involving Iran intensified earlier this year.
Scaramucci is a Wall Street financier because he founded and runs SkyBridge Capital, a New York investment firm managing billions across hedge fund and crypto strategies. Before that he spent years at Goldman Sachs and built and sold an earlier firm, Oscar Capital, to Neuberger Berman. He also founded the SALT conference, one of the best-known investment events in global finance.
Related: Elon Musk's AI warning about the dollar is starting to come true
Scaramucci pointed to three main reasons for the muted action.
First, many Bitcoin miners have shifted computing power toward artificial intelligence workloads, disrupting traditional hash-rate dynamics and dampening price swings.
Second, investor capital has flowed out of crypto and into AI-related stocks.
Third, the Bitcoin market is following its familiar four-year cycle and sits about 18-19 months from the next supply-halving event.
Despite the quiet stretch, Scaramucci remains firmly constructive.
“I think you’ll see the thing move back up over $100,000,” he predicted. “But it’s going to grind for a while.”
Scaramucci noted that the current drawdown of around 55% from the peak is milder than the 75%-80% drops seen in earlier Bitcoin cycles.
In his view, the relatively softer price decline signals a larger base of net buyers positioning for the next advance.
Scaramucci downplayed the near-term impact of the pending Clarity Act. While he believes the legislation would ultimately help the industry by reducing regulatory uncertainty and expanding bank access, he does not expect its passage to act as an immediate price catalyst.
The more important driver, he argued, remains the eventual tightening of new Bitcoin supply after the next halving.
For now, the former Trump advisor is telling investors to prepare for patience rather than a sudden surge.
Scaramucci saw the downturn coming. In late August 2025 — just weeks before Bitcoin peaked at $126,080 on Oct. 6 — he warned that the cryptocurrency could crash as much as 40% on its way to his long-term $500,000 target. The correction that followed proved even deeper, with Bitcoin falling roughly 50% from its high.
BTC/USD, Source: DecibelBitcoin was trading at $68,480 at the time of writing, as per Decibel.
