Scaramucci Sees Cryptocurrency Bear Market but Remains Bullish on Long-term Prospects

SkyBridge Capital founder Anthony Scaramucci has acknowledged that the cryptocurrency market is currently experiencing a bear phase. However, despite the short-term downturn, he urges investors not to overlook the fundamental demographic shifts driving global capital.

Scaramucci notes that institutional capital remains largely controlled by older generations who are more likely to invest in traditional safe-havens such as gold and silver. This demographic dynamic is seen as a key factor contributing to Bitcoin's underperformance, particularly its failure to act as a hedge against fiat currency debasement.

Despite the challenges posed by this bear market, Scaramucci remains optimistic about Bitcoin's long-term prospects. He has revised his price target from $170,000 in 2025 to $150,000 for 2026, citing ongoing legislative gridlock in Washington as a key factor in the current downturn.