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Effective URL: https://dailyhodl.com/2023/09/23/this-catalyst-will-catapult-bitcoin-and-have-a-dramatically-positive-impact-on-altcoi...
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THIS CATALYST WILL CATAPULT BITCOIN AND HAVE A ‘DRAMATICALLY’ POSITIVE IMPACT ON
ALTCOINS: ANTHONY SCARAMUCCI

by Mark Emem
September 23, 2023
in Altcoins, Bitcoin





SkyBridge Capital founder Anthony Scaramucci is detailing how one catalyst could
have a bullish impact on Bitcoin (BTC) and other crypto assets.

In an interview with The Wolf of All Streets’ Scott Melker, Scaramucci says that
a spot Bitcoin exchange-traded fund (ETF) could be approved in the first quarter
of 2024.



According to the SkyBridge Capital founder, the approval of a spot Bitcoin ETF
and the Bitcoin halving, which is expected to occur in April of 2024, could
combine to ignite a crypto bull market.

“As a Wall Streeter, products on Wall Street are sold, they are not bought. And
so there’s going to be tens of thousands, if not a 100,000+ people at these Wall
Street firms selling these products to their traditional investors.

So people that are in Bitcoin understand the finite supply of Bitcoin,
understand the nature and the quality that Bitcoin has. This will push Bitcoin
up and of course, it will have a dramatically positive effect on the altcoin
market because it will lead to more capital into digital properties.

So people can think whatever they want. They can think short term about the
near-term volatility of Bitcoin but these macro positive factors are
overwhelming.”

According to Scaramucci, the potential approval of spot Bitcoin ETFs filed by
giant asset managers such as BlackRock and Fidelity Investments could see the
flagship crypto asset increasing its market capitalization by roughly 24 times
from the current level.

“It’s important that now the largest asset manager in the world who started out
with some level of skepticism related to digital assets and Bitcoin is now
willing to adopt Bitcoin.

But even more important than that, they’re willing to explain to their clients –
I think BlackRock now [has] $13 trillion [in assets under management] for them,
$7 trillion for Fidelity – why their clients need exposure to digital properties
like Bitcoin.

And so we have a $500+ billion market for Bitcoin. You and I both know gold is
$12-ish depending on where it’s trading. But it’s $12 trillion. There’s no
reason why Bitcoin couldn’t get to gold.”

Bitcoin is trading at $26,624 at time of writing.



I

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Bitcoin
$26,587.12
$26,587.12
0.03%

Ethereum
$1,592.90
$1,592.90
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Cardano
$0.24605
$0.24605
0.46%

XRP
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$0.507449
1.16%

Dogecoin
$0.061503
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SPOTLIGHT

 * ‘Nowhere To Hide’ – Altcoins To Keep Getting Wrecked Against Bitcoin As
   ‘Brutal Trend’ Persists: Benjamin Cowen
   September 16, 2023
 * Crypto’s ‘Summer of Apathy’ Could Turn to ‘Winter of Discontent’, Says Meltem
   Demirors – Here’s What She Means
   September 16, 2023
 * Bank Abruptly Closes Account of Bitcoin (BTC) Holder and Client of 30 Years
   Without Explanation: Report
   September 16, 2023
 * Bitcoin (BTC) in the Beginning Stages of a Bull Market, Says Crypto Analyst
   Jason Pizzino – Here’s His Outlook
   September 16, 2023


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 * HODLX
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 * INDUSTRY ANNOUNCEMENTS
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 * CRYPTO MARKETS
   * Bitcoin (BTC)
   * Ethereum (ETH)
   * Binance Coin (BNB)
 * BEGINNERS
   * What Is Bitcoin?
   * What Is Blockchain?
   * What Does Hodl Mean?
   * How to Pay Your Bills with Bitcoin
   * Best Bitcoin FAQs
   * Example of Bitcoin’s Purpose
   * Cryptocurrency Has Multiple Meanings
   * Authenticator Alert – Securing Your Crypto
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