SkyBridge Capital CEO Anthony Scaramucci said that Bitcoin reaching $500,000 would allow cryptocurrencies to be considered a full-fledged “asset class.” Scaramucci's ambitious statement dominated the panel discussion at the Consensus 2025 conference. “A $3 trillion market cap is comparable to the stocks of the largest companies, but a $20 trillion market is a real asset class,” Scaramucci said. “If you tell me Bitcoin can reach $500,000, people will start writing that Bitcoin is an asset class.” Joining Scaramucci on the panel were WisdomTree CEO Jonathan Steinberg and 3iQ President Pasqual St-Jean. The participants agreed that cryptocurrencies, especially Bitcoin, are on their way to being accepted as an asset class. However, they noted that getting there will not only require price appreciation but also factors such as institutional adoption and regulatory clarity. “Maybe we’re not optimistic enough,” Scaramucci said, citing Wall Street’s aggressive approach to marketing crypto ETFs, the huge capital flowing into the sector, and the proliferation of tracking strategies. Scaramucci also noted that crypto is increasingly a topic of debate in US politics, but that there are still strong incentives for bipartisan support. “If Bitcoin reaches $500,000, people will not only say it is an asset class, they will treat it that way,” he said. *This is not investment advice.