SkyBridge Capital founder Anthony Scaramucci has come up with an “intellectually defensible” bullish case for Bitcoin.
He used X (formerly Twitter) to remind investors of the key macroeconomic factors he believes make cryptocurrencies’ long-term success inevitable.
Preserving value in the 21st century
The key premise is that the modern world requires a new type of money.
“Bitcoin is a bet that the 21st century will require a neutral, non-sovereign, digitally native store of value,” Scaramucci wrote, adding that “no other entity credibly fills that role.”
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Mr. Scaramucci separated this asset from traditional stocks and physical products.
Being “neutral” and “non-sovereign” means that the network operates outside the control of a single central bank or nation-state. Bitcoin’s “digital native” architecture allows it to travel around the world at internet speeds without the need for armored trucks or bank vaults.
He argues that Bitcoin is the only reliable hedge against the trajectory of debt, money printing, artificial intelligence (AI) disruption, and geopolitical fragmentation.
Scaramucci remains unfazed by the short-term price movement, even though Bitcoin is currently trading below its all-time highs as older institutional money retreats to traditional safe-haven assets such as gold and silver.
“Given the macro trajectory, that bet looks like it’s going to become more reasonable, not less, with each passing year,” he concluded.
In other news, SkyBridge Capital founder Anthony Scaramucci recently admitted that cryptocurrencies are currently in a bear market. He urged investors to ignore short-term price declines.
