Anthony Scaramucci, CEO of investment firm SkyBridge Capital, discussed his take-profit strategy for cryptocurrencies on Thursday, stating that he will not sell his Bitcoin BTC/USD but rather target altcoins such as Solana SOL/USD in the long run.
What happened: During an interview with the Altcoin Daily, the popular cryptocurrency advocate was asked about signals he looks for before deciding to offload some of his holdings.
"I think the market will mature around Bitcoin and there will be Bitcoin lending and there will be Bitcoin earning that is similar to the banking industry," Scaramucci responded.
He deemed Bitcoin as a form of hard currency, or cash, around which markets will mature, and hence he won't sell his Bitcoin anytime soon.
Scaramucci revealed that a little over 55% of his net wealth is tied up in Bitcoin.
See Also: US Government Silk Road Bitcoin Holdings Drop To 0 Amid Report DOJ Approved To Sell $6.5 Billion Worth Of Crypto
As far as altcoins were concerned, Scaramucci confessed that he has set price targets, but they are very high.
He set a goal of $2,500 for Solana SOL/USD, the sixth-largest cryptocurrency by market capitalization.
"I don’t see that happening today, but I see that over five or eight years," the former White House Communications Director stated.
Scaramucci added that he has also staked Solana for long-term returns.
Why It Matters: A passionate Bitcoin advocate, Scaramucci expected the apex cryptocurrency to surge to $150,000 should the regulatory environment turn favorable under the incoming Donald Trump administration.
Moreover, he has defended MicroStrategy’s leveraged Bitcoin buying strategy, arguing that the narrative that Bitcoin drops will force the company to liquidate its stash is exaggerated.
Scaramucci also revealed owning "a lot of" Solana previously.
Price Action: At the time of writing, Bitcoin was exchanging hands at $94,638.92, up 1.87% in the last 24 hours, according to data from Benzinga Pro. Solana was trading at $191.99, up 1.29% in the 24-hour period.
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