Anthony Scaramucci and Mike Novogratz say Bitcoin could hit $70,000 by the end of July 2026 — and they laid out why on the latest All Things Markets episode.
Why $70K?
- Scaramucci (SkyBridge Capital) argued the market mood has swung overly negative, so any renewed buying pressure could push BTC back through the $70,000 mark.
- Novogratz (Galaxy Digital) agreed but was more measured: he put the odds at roughly 70/30 that Bitcoin reaches that level — assuming the CLARITY Act advances in Congress.
Debt, inflation and the hard-asset case
- Novogratz tied the bullish thesis to the U.S. fiscal picture. With roughly $40 trillion in national debt, he said policymakers might prefer steady inflation to erode the real value of that burden, rather than relying on growth alone.
- That dynamic, he argued, supports demand for scarce, hard assets like Bitcoin when investors worry about money supply and purchasing power. He also warned that runaway inflation becomes hard to control if public trust breaks down.
Regulatory backdrop: the CLARITY Act
- Both men highlighted the CLARITY Act as a major catalyst for crypto markets. Novogratz said he’s met bipartisan lawmakers and still sees interest in passing the bill, but negotiations are stalled on issues such as ethics rules and the legal treatment of privacy software.
- Galaxy has trimmed its expectations, putting the bill’s chance of passage in 2026 at 60% as Senate time grows short. Other firms, including JPMorgan and Bitwise, have also adopted a more cautious outlook ahead of the August recess.
Liquidity and capital flows: the SpaceX effect
- The episode opened with SpaceX’s blockbuster public offering — reportedly the largest IPO in history — which drew more than $250 billion in orders (nearly four times the company’s target). ARK purchased about $444 million in SpaceX shares, and the stock closed its first day nearly 19% above the IPO price, valuing SpaceX above $2.1 trillion.
- That massive demand for tech listings has raised questions about capital flows: crypto had shed roughly $250 billion during June’s selloff, and some see marquee IPOs as a pull on liquidity that might otherwise go into digital assets.
MicroStrategy’s trading moves
- Scaramucci and Novogratz also reviewed MicroStrategy’s recent Bitcoin activity. The company briefly sold 32 BTC, then repurchased 1,550 BTC days later, bringing its total holdings to about 845,256 BTC. Michael Saylor has pointed investors to Common Equity Bitcoin Exposure (CEBE) BPS as a way to assess risk exposure.
Bottom line
- Scaramucci and Novogratz see a plausible path to $70,000 for Bitcoin by late July 2026, contingent on positive catalysts — especially clearer U.S. regulation via the CLARITY Act and continued bullish flows into scarce assets amid macro pressure. But they also stress the risks: policy uncertainty, inflation that gets out of control, and shifting capital into massive public listings.
Disclosure: This is not investment advice. The content above is for informational and educational purposes only.
Read more AI-generated news on: undefined/news
