Bitcoin investors have suffered a lot this year. The cryptocurrency has lost around 20% in less than 2 months. But long-term bulls such as Anthony Scaramucci have not been fazed by the pullback.
In an interview with CNBC this week, Scaramucci dismissed the recent weakness of BTC as temporary and said the asset would resume its upward trajectory within the next three to six month.
Skybridge Capital’s founder cited a number of catalysts that could help Bitcoin prices rally through the rest of this year.
This is good news for all crypto investors, since what happens to BTC tends reflect on the entire crypto market, which includes a new competitor, Bitcoin Pepe.
What is Bitcoin Pepe and how does it relate to the price of BTC?
Bitcoin Pepe, which touts itself as the closest relative to BTC, may benefit from positive developments in the price of Bitcoin.
According to its website, Bitcoin Pepe is “the world’s only Bitcoin meme ICO”. This means that it stands to gain a lot as institutional buyers continue their influx to the largest crypto market cap in the world as Scaramucci predicted in the CNBC interview.
The Bitcoin Pepe community seems to like the narrative, as the meme coin presale raised nearly $4.9 million in just a few weeks.
After the presale, Bitcoin Pepe will list on a crypto-exchange to make it easier for interested investors build a position, which could help drive the meme coin’s price higher in 2025.
Bitcoin Pepe could benefit from other macro-economic tailwinds
Anthony Scaramucci still sees Bitcoin as a very valuable long-term investment, given the US government plans to create a strategic Bitcoin Reserve.
“The United States will hold this asset, which means that other countries will end up purchasing this asset as well,” said he.
This will increase demand for Bitcoin, which will in turn drive up the price. But, more importantly it will add a layer to the crypto market that could be beneficial for Bitcoin Pepe.
The meme coin currently costs $0.0281, so it does not require a large amount of capital to take a significant position in it.
The Trump administration is committed to bringing cryptocurrency to mainstream finance, which could continue to drive investors to digital assets including Bitcoin Pepe.
Click here to visit the website of this new meme coin.
This post is Is Bitcoin Pepe still a good buy despite recent BTC drop? This post may be updated as new information becomes available
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