Tianqiao Capital: This round of Bitcoin bull market will exceed US$170,000! The future market value will reach half of gold

The much-anticipated Bitcoin halving will start when the block height reaches 840,000. Data shows that the fourth halving is expected to be at 5:54 pm on April 20, Beijing time. The split happened, and in less than 13 days, the BTC block reward will drop from 6.25 to 3.125.

The market is generally optimistic that this halving will be a major catalyst for the rise of BTC, including Anthony Scaramucci, founder of the American hedge fund Sky Bridge. In an interview with CNBC on the 6th, he said that in the recent Bitcoin Stimulated by spot ETFs as sales machines and the upcoming fourth halving event, Bitcoin still has a lot of room to rise from the current level of $69,350. He is conservatively optimistic that BTC will surge to 170,000 in this bull market cycle dollar highs.

Bitcoin’s long-term valuation will reach half of gold’s valuation, at around US$400,000

He also estimated that Bitcoin’s market value may reach half of gold’s valuation in the long run, approximately 6 to 10 times the current price, looking at $400,000, but this will happen over a longer time frame, and there will still be large fluctuations.

At the end of January this year, Scaramucci said that based on historical data, the price of Bitcoin usually increases fourfold within 18 months after halving. Under a conservative estimate, assuming the price of Bitcoin is $60,000 at the time of the halving in April, Bitcoin is expected to surge to $240,000.

Spot ETF stimulates large demand from institutions

In the interview, Scaramucci also praised the Bitcoin spot ETF that was approved for listing in January this year as a sales machine, stimulating a large demand for Bitcoin from Wall Street institutions. , the first Bitcoin spot ETF has accumulated inflows of more than 10 billion US dollars in just three months. This feat took gold ETFGLD a year to achieve.

Scarramucci also added that he “really likes” Solana, noting that SkyBridge Capital holds smaller positions in Solana, Avalanche, Algorand and several other tokens.

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