Bitcoin News Today: Bitcoin's Institutional Push: A New Gold Standard in the Making?

Anthony Scaramucci, founder and CEO of SkyBridge Capital, reaffirmed his bullish stance on Bitcoin at the Wyoming Blockchain Symposium, maintaining his year-end price target of $180,000 to $200,000. Speaking at the event, Scaramucci highlighted the growing institutional adoption of Bitcoin as a key driver for its future trajectory. He noted that the crypto market has evolved significantly in the past three years, with institutional investors now playing a larger role compared to the predominantly retail-focused conferences of the past [1]. Despite a recent pullback and ongoing consolidation, Scaramucci expressed confidence in Bitcoin’s fundamentals, citing the imbalance between demand and supply as a compelling argument for its long-term growth [2].

Scaramucci’s comments align with broader industry trends showing increased institutional interest in the cryptocurrency. He specifically pointed to the activity around products like the BlackRock ETF and iShares Bitcoin Trust as evidence of this shift [1]. Institutional participation, according to Scaramucci, is likely to continue bolstering Bitcoin’s price, even amid short-term volatility. “There are people who are way above those levels [of $200,000],” he added, emphasizing that the $180,000 to $200,000 range is a conservative estimate, given the limited supply of new Bitcoin entering the market each day [2]. At the time of the interview, Bitcoin was trading at $113,846, representing a decline of 1.9% in the previous 24 hours [2].

The market, however, is currently navigating a correction phase following a sharp rise to an all-time high above $124,000. The pullback has been attributed to several factors, including profit-taking by investors and liquidations triggered by overleveraged positions. Recent data showed that $1.07 billion in liquidations occurred across the crypto market, with Bitcoin and Ethereum being hit particularly hard [3]. Additionally, uncertainty around the U.S. Federal Reserve’s policy decisions has added to the market’s volatility. Traders are closely watching the upcoming Jackson Hole symposium, where Fed Chair Jerome Powell is expected to provide insights on the future of interest rates [3].

Despite these short-term challenges, Scaramucci remains optimistic about Bitcoin’s future. He owns a substantial amount of Bitcoin personally and through SkyBridge Capital, with 70% of his wealth reportedly tied to the cryptocurrency [1]. Scaramucci also reiterated his belief that Bitcoin could eventually be recognized as a full-fledged asset class, comparable to gold, once it reaches the $500,000 milestone [1]. He attributed this potential to the asset’s limited supply and its increasing appeal as a hedge against U.S. fiscal policy.

Analysts and investors are closely watching how Bitcoin will respond to the current market dynamics. While some view the correction as a healthy consolidation phase, others are concerned about the potential for further declines if the market fails to absorb the selling pressure. Institutional demand, however, continues to show resilience, with on-chain data indicating strong accumulation by large holders [3]. This trend, combined with Bitcoin’s inherent scarcity and growing institutional support, suggests that the cryptocurrency is well-positioned for a recovery in the medium to long term.

Source:

[1] Anthony Scaramucci Maintains Year-End Bitcoin Target ... (https://www.benzinga.com/crypto/cryptocurrency/25/08/47225565/anthony-scaramucci-maintains-year-end-bitcoin-target-between-180000-200000-says-he-owns-a-lot-of-btc)

[2] Anthony Scaramucci Doubles Down on 'Cautious' Bitcoin ... (https://dailyhodl.com/2025/08/19/anthony-scaramucci-doubles-down-on-cautious-bitcoin-btc-price-target-by-year-end/)

[3] Bitcoin Price Is Going Down as Market Stress Tests Bulls ... (https://www.financemagnates.com/trending/bitcoin-price-is-going-down-as-market-stress-tests-bulls-before-jackson-hole)