Bitcoin Is Heading Towards $500k – Here’s The Signal

Despite the massive market volatility, there are all kinds of optimistic predictions about the price of Bitcoin these days. Check out the latest one below.

Hedge fund veteran Anthony Scaramucci says that Bitcoin (BTC) will hit $100k within the next two years.

In a new interview on CNBC, the CEO of global investment firm Skybridge Capital explained the fact that the skyrocketing growth in the number of Bitcoin wallets indicates that the flagship cryptocurrency is on track to $500,000.

“According to Glassnode, there’s probably 245 million wallets out there or accounts related to Bitcoin. When I made or when Skybridge made its first Bitcoin investment, we were talking about 85 million wallets and that was October-November of 2020, so just think of the spectacular growth of the Bitcoin network.”

Scaramucci: Bitcoin will hit $100k in the next two years @Scaramucci #bitcoin #crypto pic.twitter.com/RSunD2bPW2

— Joan Muwahed (@joanmuwahed) March 30, 2022

Scaramucci continued and said that wallets give an overview of people’s trust in Bitcoin.

“As wallets grow and the transactions on the Bitcoin network grow, I think people get more and more confidence in Bitcoin, the ledger of Bitcoin, the accounting of Bitcoin. Somebody like Cathie Wood would say to you, a billion wallets, Bitcoin could easily trade to $500,000 a coin.”

It’s also important to note the fact that he is optimistic that the leading digital asset could hit $100,000 by 2024.

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $44,861.

Kraken Exchange’s users have a reason to celebrate. The exchange has just integrated Bitcoin Lightning Network. Check out the relevant tweet below.

Kraken customers can now instantly deposit and withdraw #bitcoin with nearly no fees through the Lightning Network.@namcios covers the news:https://t.co/3qwHqwt5rf

— Bitcoin Magazine (@BitcoinMagazine) March 31, 2022

As per Bitcoin Magazine, the users of this exchange can now deposit and withdraw up to 0.1 BTC with instant and cheap Lightning payments.