SkyBridge Capital founder Anthony Scaramucci told CNBC he expects Bitcoin to trade between $180,000 and $200,000 by the end of 2025, reiterating a forecast he first outlined ahead of this week’s Wyoming Blockchain Symposium. The former White House communications director said the projection is “cautious,” arguing that demand for the cryptocurrency now far outstrips newly issued supply. Scaramucci cited increasing institutional participation following the approval of U.S. spot Bitcoin exchange-traded funds and a recent halving that cut the token’s issuance rate in half. Bitcoin was changing hands at about $128,000 on Tuesday afternoon in New York, implying potential upside of roughly 40% to Scaramucci’s upper target. While the digital asset has climbed more than 300% in the past 12 months, it remains volatile, and analysts are divided on whether the rally can be sustained amid higher-for-longer interest rates.