Bessent's Debt Warning Accidentally Pitches Bitcoin, Says Scaramucci
At the recent G20 Finance Ministers' meeting, Treasury Secretary Scott Bessent warned that the world is awash in debt. SkyBridge Capital founder Anthony Scaramucci sees this as an inadvertent endorsement of Bitcoin (BTC). He believes that Bessent's statement delivers the 'best BTC ad of the year', unintentionally promoting the cryptocurrency.
The national debt has surpassed $40 trillion, while the deficit is projected to exceed $2 trillion in fiscal 2026. Scaramucci warned last month that debt could balloon to $55 trillion within the next decade. He views Bitcoin and gold as 'part of the answer' to a monetary system under strain from fiscal pressures and eroding purchasing power.
Scaramucci has maintained his long-term bullish stance on BTC, allocating roughly 30% of a new portfolio to it, alongside AI, U.S. equities, real estate, and gold. He previously predicted a rally late in the fourth quarter of 2026 into early 2027.