SkyBridge Capital founder Anthony Scaramucci has come up with an “intellectually defensible” bull case for Bitcoin.
He took to X (formerly Twitter) to remind investors of the main macroeconomic forces that he believes make the cryptocurrency’s long-term success inevitable.
The 21st-century store of value
The key premise is that the modern world requires a new type of money.
“Bitcoin is a bet that the 21st century will need a neutral, non-sovereign, digitally native store of value,” Scaramucci wrote, adding that “nothing else credibly fills that role,” he said.
Scaramucci has separated the asset from traditional equities or physical commodities.
Being “neutral” and “non-sovereign” means the network operates outside the control of any single central bank or nation-state. Bitcoin’s “digitally native” architecture allows it to move globally at the speed of the internet without the need for armored trucks or bank vaults.
He argues that Bitcoin is the only credible hedge against the trajectory of debt, money printing, artificial intelligence (AI) disruption, and geopolitical fragmentation.
Despite Bitcoin currently trading below its all-time highs as older institutional money retreats to traditional safe havens like gold and silver, Scaramucci remains unfazed by short-term price action.
“Given the macro trajectory,” he concluded, “that bet looks more reasonable with each passing year, not less.”
In other news, SkyBridge Capital founder Anthony Scaramucci recently conceded that cryptocurrency is currently in a bear market. He is urging investors to ignore short-term price drops.