SkyBridge Capital founder Anthony Scaramucci said Bitcoin’s (BTC) current price near $97,000 reflects where it should have been two years ago.Speaking on CNBC’s Squawk Box on Feb. 10, Scaramucci said Bitcoin’s delayed rally was largely due to the sluggish approval of a spot Bitcoin exchange-traded fund (ETF), which he argued should have been greenlit in early 2022.Scaramucci said:“The delay caused a lot of the price damage.”He added that Bitcoin’s long period of stagnation in 2022 and 2023 was directly linked to regulatory uncertainty. Bitcoin did not break past $60,000 again until March 2024, following the eventual approval of spot ETFs in January.Institutional interestScaramucci pointed to rising institutional adoption and nation-level interest as a key driver for Bitcoin’s future trajectory.He noted that university endowments, including Emory University and the University of Austin, have begun exploring Bitcoin investments, with Emory disclosing a stake in Grayscale’s Bitcoin ETF last year.He also suggested that a US strategic Bitcoin reserve was plausible. He noted:“Contrary to popular belief, the US already holds nearly 30 different assets in its strategic reserve. Bitcoin is an asset the country will want to own at some level.”Additionally, he claimed that sovereign wealth funds in the Middle East have been quietly accumulating Bitcoin, further strengthening its long-term prospects.The Trump FactorScaramucci believes Bitcoin’s regulatory environment has improved under the current Donald Trump administration, describing it as “propitious, decent, middle-of-the-road regulation.”He suggested that more policy stability and industry engagement could help Bitcoin maintain its current momentum.Bitcoin’s price fluctuations have remained a focal point for investors, with the digital asset dipping below $100,000 after a prolonged climb.Based on CryptoSlate data, BTC was trading at $97,492 as of press time.Market analysts continue to debate whether the flagship crypto can sustain its upward trajectory, especially with upcoming US economic data potentially influencing risk sentiment.Bitcoin Market DataAt the time of press 8:18 pm UTC on Feb. 10, 2025, Bitcoin is ranked #1 by market cap and the price is up 1.34% over the past 24 hours. Bitcoin has a market capitalization of $1.93 trillion with a 24-hour trading volume of $43.7 billion. Learn more about Bitcoin ›Crypto Market SummaryAt the time of press 8:18 pm UTC on Feb. 10, 2025, the total crypto market is valued at at $3.19 trillion with a 24-hour volume of $116.05 billion. Bitcoin dominance is currently at 60.54%. Learn more about the crypto market ›Mentioned in this article
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Bitcoin (BTC) $ 83,342.00
Ethereum (ETH) $ 1,874.97
Tether (USDT) $ 0.999568
XRP (XRP) $ 2.10
BNB (BNB) $ 606.38
Solana (SOL) $ 126.41
USDC (USDC) $ 0.999985
Dogecoin (DOGE) $ 0.172573
Cardano (ADA) $ 0.677081
TRON (TRX) $ 0.234582
Lido Staked Ether (STETH) $ 1,874.46
Wrapped Bitcoin (WBTC) $ 83,300.00
Toncoin (TON) $ 3.70
LEO Token (LEO) $ 9.70
Chainlink (LINK) $ 13.86
Avalanche (AVAX) $ 20.01
Stellar (XLM) $ 0.267512
Wrapped stETH (WSTETH) $ 2,247.26
USDS (USDS) $ 0.999942
Sui (SUI) $ 2.38
Shiba Inu (SHIB) $ 0.000013
Hedera (HBAR) $ 0.172534
Litecoin (LTC) $ 86.18
Polkadot (DOT) $ 4.11
MANTRA (OM) $ 6.32
Bitcoin Cash (BCH) $ 306.20
Pi Network (PI) $ 0.829442
Bitget Token (BGB) $ 4.66
WETH (WETH) $ 1,876.03
Ethena USDe (USDE) $ 0.999418
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999281
Hyperliquid (HYPE) $ 12.71
Wrapped eETH (WEETH) $ 1,993.76
WhiteBIT Coin (WBT) $ 28.55
Monero (XMR) $ 216.74
Uniswap (UNI) $ 6.11
Aptos (APT) $ 5.40
Dai (DAI) $ 0.999640
Pepe (PEPE) $ 0.000008
NEAR Protocol (NEAR) $ 2.64
sUSDS (SUSDS) $ 1.05
OKB (OKB) $ 48.88
Tokenize Xchange (TKX) $ 35.99
Cronos (CRO) $ 0.102110
Gate (GT) $ 22.63
Mantle (MNT) $ 0.808215
Coinbase Wrapped BTC (CBBTC) $ 83,325.00
Aave (AAVE) $ 177.78
Internet Computer (ICP) $ 5.44
First Digital USD (FDUSD) $ 0.999292