Key Takeaways
- Scaramucci anticipates Bitcoin will begin its upward momentum in Q4 2026 through early 2027
- He dismisses concerns about Michael Saylor and Strategy, calling them financially secure
- Strategy maintains approximately $52 billion in Bitcoin holdings plus $1 billion cash reserves
- Declining retail interest and reduced Google search activity represent bullish indicators in his view
- ETF capital flows and institutional accumulation have created a less volatile cycle compared to previous periods
Anthony Scaramucci, founder of SkyBridge Capital, told CNBC that Bitcoin remains aligned with its traditional four-year market cycle. He anticipates an upward price movement commencing in late 2026 and extending into the first quarter of 2027.
According to Scaramucci, the current market cycle has exhibited less volatility than previous iterations. Bitcoin experienced approximately 50% retracement from peak levels, significantly less than the 60–70% corrections observed in earlier cycles. He attributes this moderation to sustained ETF capital inflows and growing institutional participation.
“I think Bitcoin starts to rally late in the fourth quarter of 2026 into early 2027,” he said.
Scaramucci identified diminishing market attention as an encouraging development. Search volume for Bitcoin on Google has declined substantially, and retail investor enthusiasm has waned. He characterized this apathy as a pattern that typically emerges near cycle lows rather than market peaks.
He emphasized that Bitcoin’s market remains comparatively modest in size. Consequently, even limited fresh capital entering the market can generate substantial price appreciation. Scaramucci disclosed that he maintains significant personal Bitcoin exposure.
“I still like it. I own a lot of it,” he said.
Strategy’s Position Draws Support From Scaramucci
Scaramucci dismissed criticisms surrounding Strategy’s substantial Bitcoin position. He highlighted Michael Saylor’s access to robust capital markets and a solid financial foundation.
“You have to really understand the mechanisms of the balance sheet to understand that Bitcoin can go a lot lower, and he’s virtually not in trouble,” he said.
Strategy’s Bitcoin treasury stands at approximately $52 billion in current value. This reserve provides coverage for 31 months of dividend payments and interest commitments. The firm additionally maintains $1 billion in liquid cash reserves.
No significant debt obligations come due before 2028. Saylor has stated publicly that Strategy can continue servicing its preferred stock dividends and enhancing shareholder returns as long as Bitcoin appreciates by a minimum of 1.25% annually.
Scaramucci observed that Strategy’s equity continues trading at a premium relative to its underlying Bitcoin reserves. He suggested this premium provides investors with “necessary arbitrage” opportunities that justify the investment thesis.
“I like him. I think he’s going to be right,” Scaramucci said of Saylor.
He further mentioned that recent geopolitical developments and declining energy costs could suppress inflationary pressures. Should this scenario materialize, the Federal Reserve might implement interest rate reductions, potentially benefiting Bitcoin and broader risk assets.
Drawing on nearly four decades of investment experience, Scaramucci characterized the present market conditions as a late-cycle deceleration rather than the conclusion of Bitcoin’s long-term appreciation trajectory.
