Bitcoin Set to Skyrocket to $70K by July! Scaramucci & Novogratz Reveal the Trigger

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<a href="https://jpygbp.com/btc-usd/">Bitcoin</a> to $70K by July? Scaramucci and Novogratz see a path

According to Anthony Scaramucci of SkyBridge Capital and Mike Novogratz, CEO of Galaxy Digital, Bitcoin might rise back to $70,000 by July 2026.

Summary

  • Scaramucci sees negative Bitcoin sentiment as fuel for a possible move back above $70K soon.
  • Novogratz says CLARITY Act progress could support Bitcoin, but timing remains politically uncertain this summer.
  • The SpaceX IPO and Strategy trades add pressure to an already cautious crypto market setup.

On the recent ‘All Things Markets’ podcast, they discussed topics like SpaceX, the national debt, inflation, cryptocurrency regulations, and Strategy’s activity with Bitcoin.

Anthony Scaramucci believes Bitcoin will likely climb back to $70,000, as current market sentiment is overly pessimistic. He suggests new investment could drive the price even higher. Mike Novogratz shares a similar outlook, estimating a roughly 70% chance of this happening if the CLARITY Act is passed.

SpaceX recently had a hugely successful initial public offering, and Mike Novogratz and I are discussing what that means for investors. We’re also looking at concerns like the large amount of global debt – around $40 trillion – and whether it could lead to inflation, the potential for Social Security to run out of funds by 2032, and the Clarity…

— Anthony Scaramucci (@Scaramucci) June 13, 2026

Debt and inflation shape the Bitcoin case

Novogratz believes the future of Bitcoin is connected to the large amount of U.S. debt, which currently totals around $40 trillion. He argues that the U.S. can’t solve this debt problem through economic growth alone. He suggests that policymakers might intentionally allow some inflation, as this would gradually reduce the actual value of the debt over time.

This idea reinforces the established argument that Bitcoin is a valuable, long-term investment like physical assets. Investors often turn to limited resources when they’re concerned about increasing money supply, growing debt, and the declining value of their money. However, Novogratz cautioned that if people lose faith in the system, controlling inflation could become very difficult.

Investors also talked about the CLARITY Act, which aims to establish more understandable regulations for the cryptocurrency market in the U.S. Novogratz mentioned he’d recently spoken with legislators from both Democrats and Republicans and believes there’s still support for the bill, although some key points are currently holding up progress.

Current concerns center around regulations for ethics and privacy software. Galaxy Digital has lowered its prediction of the CLARITY Act becoming law in 2026 to 60%, citing limited time in the Senate. JPMorgan and Bitwise have also expressed increasing caution as lawmakers prepare for their August break.

SpaceX and Strategy add market pressure

The latest episode began by discussing SpaceX’s recent stock market debut and how it could affect the availability of funds in the cryptocurrency world. Crypto.news previously reported that demand for SpaceX shares exceeded $250 billion – almost four times the company’s fundraising goal. This came after crypto markets already experienced about $250 billion in losses during a sell-off in June.

Crypto.news later reported that ARK Invest purchased around $444 million worth of SpaceX stock. The stock finished its first day of trading nearly 19% higher than its initial public offering price, giving SpaceX a market value exceeding $2.1 trillion. This sparked discussion about whether money was shifting from cryptocurrencies to major tech companies.

Scaramucci and Novogratz discussed Strategy’s recent Bitcoin activity, including a small sale followed by a larger purchase. Strategy had previously sold 32 BTC but then bought 1,550 BTC shortly after, increasing their total Bitcoin holdings to 845,256 BTC. Michael Saylor also suggested using Common Equity Bitcoin Exposure BPS as a way to assess risk for investors.

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2026-06-14 17:10