Scaramucci points to $100,000 bitcoin as 'magic number' for OG sellers, eyes AI-blockchain convergence

Anthony Scaramucci said $100,000 became a key selling level for some longtime bitcoin holders last year, helping add to selling pressure as the market moved beyond expectations of a "super cycle."

"Frankly, a lot of OGs holding positions for 10, 15 years, they saw $100,000 per coin as a magic number for them, and they sold," Scaramucci, founder and managing partner at SkyBridge Capital and chairman of SALT, told The Block's Kelvin Sparks at the Wyoming Blockchain Symposium in Jackson Hole.

Scaramucci said some market participants had entered the year expecting a "bitcoin super cycle," while others maintained that the cryptocurrency remained subject to its historical four-year pattern. As the market reached what he described as an inflection point, expectations of increased selling became a "self-fulfilling prophecy" and contributed to a cascade of selling, he argued.

John Darsie, CEO of SALT and partner at SkyBridge, said bitcoin's changing holder base is part of a broader maturation process. Some longtime bitcoin holders and libertarians are beginning to sell portions of their holdings while institutions, financial advisers, and family offices increasingly make bitcoin part of their asset allocation mix, he said. Darsie argued that the shift has contributed to lower volatility and could be healthy if bitcoin continues developing as a store of value.

AI agents and blockchain transactions

Scaramucci also expects blockchain technology to play a role in the development of agentic AI. "I think there'll be a convergence between blockchain and AI," he said, adding that AI agents making transactions in the future would "most likely" conduct them over blockchains.

Darsie sees the overlap extending to infrastructure and investment. He pointed to bitcoin miners already diversifying into AI compute, while identifying energy, AI, robotics, fintech, and digital assets as major themes for the coming decade.

Darsie said the symposium had attracted asset allocators including sovereign wealth funds from Singapore and the Middle East, pensions, endowments, foundations, and family offices looking at ways to deploy capital across bitcoin, liquid crypto assets, and venture investments.