Changing The US With A Bitcoin Standard
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Anthony Scaramucci sits down with the hosts of the “Bitcoin Magazine Podcast” to talk about his short time with the U.S. government and the current trajectory of American fiscal and monetary policy.
Scaramucci is concerned about the way things are going in the U.S. in regards to money printing and he paints a concerning picture if the country doesn’t get back on track with its fiscal policy. “My last point is on a revolution. I’m hoping that we can resolve these things. I’m optimistic that we can resolve these things without a revolution. However, if we continue on the current course trajectory, if we want to create another 9 trillion dollars of money … you are going to have a lot of upset people.” Scarmucci doesn’t think commodities will be the telling point for when things get toughest because he thinks the current political trajectories will create a bigger problem than commodities. His solution would be for transformative leaders to slow down the irresponsible monetary policy and be honest with the public about the need to tighten money printing in order to get back on track.
Surprisingly, Scaramucci thinks that bitcoin is still speculative. He says, “I do not see bitcoin as an inflation hedge or a digital store of value. I do not see that. I see bitcoin still, as an early adoption technical story.” Scaramucci compares Bitcoin as it is now to Amazon when it was 13 years old. Amazon was extremely volatile at that point, but is much less volatile now that it has saturated the market.
One of the things that Scaramucci thinks will bring about greater adoption is the approval of a bitcoin exchange-traded fund (ETF). “All that regulatory fear and uncertainty and doubt has been blown up by the origination of this cash ETF … I have to have it in my portfolio to sell to people.” Regardless of how