Is $100,000 the Magic Number to Bring Back Bitcoin Investors? Anthony Scaramucci Makes a Bold Case to Buy BTC Now.

Investors like big, round numbers, which is what Anthony Scaramucci, founder of SkyBridge Capital, suggests in his assessment of Bitcoin (CRYPTO: BTC). In his defense, that's likely to be true. However, it highlights an important factor you shouldn't ignore when considering Bitcoin. Here's why $100,000 was an important level, according to Scaramucci, and why he thinks Bitcoin could rise again.

Bitcoin plunged dramatically

Even after a rally, Bitcoin remains more than 33% below its 2025 high, as of this writing. That's a massive drop, which took the cryptocurrency from over $100,000 to well below that figure. What happened? According to Scaramucci, the reason is that people who had held Bitcoin for a long time viewed the big round number as a sell trigger. That's not a shocking thing, as every big round number the S&P 500 index (SNPINDEX: ^GSPC) passes through gets highlighted, as well.

Image source: Getty Images.

Selling pressure from longtime Bitcoin holders pushed the price lower as ownership of the cryptocurrency shifted to newer buyers, according to SkyBridge partner John Darsie. It was a transition period that may be nearing an end, given the recent rally in Bitcoin. Meanwhile, Scaramucci believes there are major tailwinds to consider, most importantly the convergence of artificial intelligence and blockchain technology.

Bitcoin Price data by YCharts

The risk in Scaramucci's argument

Scaramucci's belief that $100k was an important price point is completely reasonable. However, it is a completely arbitrary number, even if Bitcoin investors peg their expectations to it. It highlights that the only thing backing the prices of Bitcoin and other cryptocurrencies is the willingness of their holders to own them. That's vastly different from a stock, where you can assess the value of the business that has issued it using audited balance sheets, income statements, and cash flow statements. Those tools don't exist for cryptocurrencies.

This is the inherent risk investors are taking on when buying Bitcoin. However, if Scaramucci is correct that AI agents will use blockchain to track their activities, then Bitcoin could, in the near future, have a more trackable functional purpose. That is a development worth watching, and one that could turn Bitcoin from a merely speculative asset into one with an increasingly important functional value. It isn't yet clear how that value would impact the price of Bitcoin. But if you share his vision, Scaramucci could be right that the future is bright for Bitcoin and, perhaps, the broader crypto space.

Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.