Skybridge Capital Says Bitcoin Fair Market Value is $40,000

Anthony Scaramucci, founder and managing partner of Skybridge Capital, a global asset management firm, shared its company’s estimates on Bitcoin’s and Ethereum’s fair market values in an interview with Marketwatch on Tuesday.

According to Scaramucci, the worst of the crypto bear market has passed and bitcoin has already bottomed, noting that while the price can still slide, it won’t drop again to as low as $17.500 levels.

Based on adoption, wallet size, use cases, and growth of wallets, the company estimates Bitcoin’s fair market value to be $40,000. Ethereum’s fair market value is estimated to be $2,800.