Solana Set to Surpass Ethereum, Claims Skybridge Capital’s Scaramucci

In a bold prediction at the Solana Breakpoint event in Abu Dhabi, Anthony Scaramucci, founder of Skybridge Capital, expressed his belief that Solana will "flip" Ethereum in terms of market capitalization. He emphasized that this does not imply Ethereum is declining, but rather that both could coexist and grow, with Solana potentially expanding at a faster rate.

Key Takeaways

Anthony Scaramucci predicts Solana will surpass Ethereum in market cap, but maintains that Ethereum will continue to thrive.
Scaramucci recently released a book titled "Solana Rising" that discusses Solana's strengths.
He believes Solana's speed, low transaction costs, and strong development ecosystem are significant advantages.
Scaramucci holds a substantial personal and firm investment in Solana and promotes a diversified investment strategy.
He anticipates Solana's price could reach $300–$400 by next year, with a long-term goal of $1,000.

Solana will flip Ethereum Anthony Scaramucci

Scaramucci’s Prediction for Solana

At the Solana Breakpoint conference, Scaramucci stirred the audience's interest by donning a tie amidst the casual attire of attendees and stating confidently that Solana is poised to "flip" Ethereum. His outlook doesn't stem from hostility towards Ethereum, but rather from a belief in different growth trajectories leading to Solana achieving a larger market cap.

“I think Solana will surpass Ethereum, but that doesn’t mean Ethereum is on the decline. There’s room for both to grow,” Scaramucci shared during his appearance on CoinDesk Live on December 11.

His belief in Solana has been consistent and was recently accompanied by the launch of his new book, "Solana Rising," released on December 9. Scaramucci notes that the book quickly climbed to the top of Amazon's investment management and strategy category. It's aimed at skeptics and supporters alike within the crypto community.

Scaramucci presented familiar themes regarding Solana's appeal at crypto events this year. He underscored that it is the fastest-growing blockchain, bustling with activity, cost-effective for users, and developer-friendly. The advantages of staking further contribute to what he defines as “great tokenomics.”

Inevitable disclosure followed, as Scaramucci acknowledged a significant personal stake in Solana — about 60% of SkyBridge’s balance sheet. He estimated his own exposure to be around 6-7%, indicating a substantial investment.

Despite his strong alignment with Solana, Scaramucci clarified that he does not adhere to "chain monogamy." He expressed appreciation for other chains such as Avalanche and Ethereum. “It’s not a love affair; it’s about the realities of investing,” he said, likening it to holding a diversified stock portfolio. Scaramucci argues that Solana’s rapid growth, diverse use cases, and low transaction fees make it particularly appealing to investors.

Additionally, he highlighted the launch of the first spot Solana ETF in the United States, referring to it as the “first staking ETF,” signifying that the market is still in its infancy.

Price predictions followed, with Scaramucci contemplating if SOL might reach $300–$400 by the end of the coming year, contingent on favorable regulatory changes in the U.S. He expressed optimism about the passage of the CLARITY Act, which he believes could significantly facilitate the utilization of tokenization. Looking further ahead, he forecasts Solana might reach $1,000 within the next five years.

Revisiting Bitcoin, Scaramucci maintained his bullish stance, despite acknowledging his previous misjudgment on timing. He sets a target for Bitcoin between $150,000 and $200,000, suggesting that a more supportive monetary landscape next year could create favorable conditions for its price appreciation.

As of the latest update, SOL was trading at $139.14.

Solana price
SOL sits below key resistance, 1-week chart | Source: SOLUSDT on TradingView.com