(ZEROHEDGE) – Another weekend, another record high across various cryptocurrencies. Bitcoin soared above $57,500 overnight, accelerating towards the upper-end of its stock-to-flow model range. Additionally, altcoins have also been soaring, with Ethereum breaking above $2000.
Anthony Scaramucci, founder of SkyBridge Capital, and newfound investor in cryptos, predicted that bitcoin would hit $100,000 by year-end, but suggested that investors be cautious about buying digital assets. The SkyBridge Bitcoin Fund LP has about $500 million in bitcoins, Scaramucci said.
"I do think we see $100,000 in this coin before year-end," Scaramucci said. "It's just a supply and demand situation," he told the business network's "Squawk Box," referring to the perceived increased demand for bitcoins from institutions and waning supplies of the asset.
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