Anthony Scaramucci told us 3 reasons why he sees bitcoin going to $100,000 by

• Anthony Scaramucci’s SkyBridge Capital’s first crypto fund — the SkyBridge Bitcoin Fund LP — is officially open for business on Monday for retail and institutional investors, with Fidelity serving as the fund’s custodian and Ernst & Young as its auditor. 
• In an interview, Scaramucci laid out the three catalysts that led him and the firm to enter the bitcoin market after a year that saw the digital asset rally over 300%. 
• He also shared why bitcoin could reach $100,000 by the end of 2021 and why he and SkyBridge partners have plowed $25.3 million of their personal assets into the fund. 
• Visit Business Insider’s homepage for more stories.

Anthony Scaramucci has been busy this holiday season.

While many other hedge funders chose to take the last week of the year off, he was putting the finishing touches on his first-ever cryptocurrency fund — the SkyBridge Bitcoin Fund LP.

“My kids think I’m the Grinch because I’m sitting in my office all day,” said Scaramucci, founder of the $9.3 billion hedge fund SkyBridge Capital, in an interview.

The fund, which is officially open for retail and institutional business on Monday, requires a minimum investment of $50,000 for accredited investors. It charges a 75-basis point management fee and no incentive fee. 

As a sign of his bullishness on the digital asset, Scaramucci and his hedge fund partners have already plowed $25.3 million of their personal assets into the fund, which has Fidelity and Ernst & Young as the custodian and auditor of the fund, respectively.

Entering the market after a 300% bitcoin rally in 2020, Scaramucci’s fund launch is a culmination of two years of research into the cryptocurrency space. 

“I see the coins going to $100,000 by December 31 next year,” he said during the final week of 2020. “It’s not to say that they won’t be volatile, it’s not to say that you’re not going to have some choppiness.”

Three catalysts and a lot of conviction 

Despite the almost inevitable volatility ahead for bitcoin, Scaramucci explains that three catalysts have cemented his high conviction in the asset.

First off, bitcoin has evolved to take the dominant position in the still-emerging cryptocurrency asset class, much like how the tech giants have taken disproportionately large market shares of their industry, 

“This coin has become the industry leader, it has a $500 billion market cap,” he said on Dec. 29. Bitcoin had a $604 billion market cap as of Monday. 

He added: “It’s effectively now in our minds like any of these other networks such as Google, Facebook, and Apple. And so Bitcoin now, in our opinion, is the industry leader in digital currencies.”

The second reason is how much the ecosystem of bitcoin has de-risked over the last three years, allowing bitcoin itself to play an increasingly important role in an ultra-low-interest-rate and mass money-printing environment. 

“In 2020, the United States, a 244-year-old country, has increased its money supply by 25%,”…