SkyBridge Capital founder Anthony Scaramucci positioned Bitcoin and gold as "part of the answer" to a changing monetary system under strain from fiscal pressures and declining purchasing power. He voiced concerns on X about the potential impact of deficit spending and inflation on the economy, warning that national debt could rise from the current $39 trillion to $55 trillion within the next decade. Scaramucci framed deficit spending as an "unfunded tax liability" that would trigger inflation and borrowing costs, an assessment shared by JPMorgan Chase CEO Jamie Dimon.

Scaramucci added that inflation effectively monetizes debt by eroding the currency’s value, so $1,000 would have only $750 in purchasing power. He pitched Bitcoin and gold as "part of the answer" to this evolving monetary system, deeming them both as inflation hedges. "That’s why I’m long gold. That’s why I’m long Bitcoin," Scaramucci added.

Long-term Projections and Market Cap

Scaramucci has maintained his long-term bullish stance on Bitcoin, asserting that he would allocate roughly 30% of a new portfolio to Bitcoin, alongside AI, U.S. equities, real estate and gold. Even without U.S. regulatory reform, he believes Bitcoin could eventually reach half of gold’s market capitalization. If gold reaches a market value of roughly $50 trillion over the next decade, he believes Bitcoin could grow to around $25 trillion. This valuation would imply a Bitcoin price in the range of $1 million to $1.5 million, depending on circulating supply.

Short-term Outlook and Cycle Analysis

Scaramucci previously deemed the current cycle shallower than previous ones, predicting a rally late in the 4th quarter of 2026 into early 2027. He expects Bitcoin to finish the year above current levels, even without the passage of the CLARITY Act. He sees Bitcoin trading around $70,000 to $75,000 by year-end. At the time of writing, BTC was exchanging hands at $66,203.73, up 1.07% in the last 24 hours.

Legislative Hurdles and Asset Impact

Scaramucci expressed pessimism regarding the passage of the CLARITY Act, noting it may not secure the necessary 60 Senate votes and could be delayed for several years. The legislation is considered more important for altcoins than Bitcoin because the latter already has regulated investment products and has established itself as a digital store of value.

Bitcoin held above the $66,000 level while Ethereum, XRP, Cardano and Chainlink maintained recent gains, as on-chain data suggests improving market sentiment but also an increasing risk of short-term profit-taking. The recovery follows softer U.S. inflation data, improving risk appetite and renewed demand for spot Bitcoin ETFs.

Not In Easy 'Buy Fear' Zone

Santiment data noted on July 21 that the 30-day Market Value to Realized Value (MVRV) ratio for Bitcoin, Ethereum, Cardano, XRP and Chainlink has moved back above the neutral level. The shift means traders who accumulated those assets over the past month are, on average, back in profit following Bitcoin's recovery above $65,000. However, the analytics firm cautioned that positive MVRV readings historically make markets more vulnerable to profit-taking as recently profitable holders become more willing to sell. "The setup isn't overheated yet, but it's no longer the easy 'buy fear' zone either," Santiment noted.

Whale Selling Pressure Continues To Ease

CryptoQuant reported on July 21 that its Momentum Whale Inflow Ratio has fallen into negative territory for the first time this year after remaining positive for roughly five months. The metric tracks whale inflows to exchanges, where increased deposits are often associated with potential selling activity. According to CryptoQuant, the negative reading suggests large holders are sending fewer Bitcoin to exchanges, indicating easing selling pressure and a reduction in near-term bearish momentum. The firm said declining whale inflows could support a short-term recovery if the trend persists.

XRP Breakout Targets $1.30

Crypto analyst Ali Martinez said XRP has confirmed a technical breakout after clearing a key resistance level, adding that the next major upside target is $1.30. The move comes as XRP joins Bitcoin and several large-cap cryptocurrencies in returning to positive 30-day MVRV territory, signaling improving short-term profitability for recent buyers.