Anthony Scaramucci, the founder of SkyBridge Capital, has made bold predictions for the future of Bitcoin (BTC) and Ethereum (ETH). In a recent interview on the Unchained Crypto YouTube channel, Scaramucci stated that he believes Bitcoin could experience a staggering 300% increase, while Ethereum could see a rise of nearly 240% from their current values.

Scaramucci predicts that Bitcoin could reach a price range of $170,000 to $250,000, and Ethereum could reach $10,000 to $12,000. He also anticipates that in November, US President Joe Biden will win re-election over former President Donald Trump, leading to a surge in crypto assets to new all-time highs.

According to Scaramucci, one of the main factors that could drive Bitcoin’s success this cycle is the increased adoption by institutional investors. He believes that once someone declares Bitcoin as an asset class and recommends allocating a certain percentage of institutional portfolios to it, there will be a significant increase in demand for Bitcoin. He points to the state of Wisconsin’s recent announcement that they hold $160 million worth of Bitcoin as an example of this trend.

Scaramucci believes that this increased adoption and demand will lead to an upward acceleration in Bitcoin’s price. He suggests that if investors choose not to include Bitcoin in their portfolios, they may underperform their peers due to its high performance as an asset.

At the time of writing, Bitcoin is trading at $64,163, experiencing a slight decrease in the past 24 hours. Ethereum, on the other hand, is trading at $3,531, with a slight increase in the past 24 hours.

It is important to note that the opinions expressed in this article are not investment advice. Investors are advised to conduct their own research and exercise caution when investing in high-risk assets such as Bitcoin and other cryptocurrencies. The Daily Hodl does not endorse the buying or selling of any digital assets and is not an investment advisor.