Anthony Scaramucci, the founder of SkyBridge Capital, predicts that President Joe Biden will cater to the crypto industry, despite opposition from SEC Chair Gary Gensler.
In a recent interview with journalist David Lin, Scaramucci suggested that Biden is gradually changing his stance on Bitcoin and crypto, especially after the recent approval of Ethereum exchange-traded funds (ETF).
Scaramucci believes that Biden may risk losing votes in swing states if he disregards the desires of those against cryptocurrencies.
Regarding the controversial Staff Accounting Bulletin (SAB) 121 issued by the SEC in 2022, Scaramucci noted that the Biden administration rejected the bill but managed to push through the Ethereum-related matters, despite objections from individuals like Elizabeth Warren and Gary Gensler.
Looking at Bitcoin, Scaramucci expressed optimism about its future, predicting that it could reach as high as $700,000 in the next fifteen years, given its low adoption rate in the United States and potential for growth.
As of the time of writing, Bitcoin is trading at $69,420.
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