Ex-US Politician Foresees Bitcoin Hitting $15T Cap Amid Broken Federal System
According to CoinEdition: Anthony Scaramucci, former White House Director of Communications and managing partner at SkyBridge Capital, has posited that Bitcoin could potentially reach a $15 trillion market cap given the flaws in the U.S. monetary system and the government's excessive spending habits.
Scaramucci acknowledged the satisfactory performance by the U.S. Federal Reserve but believed the underlying structure it operates within is largely compromised. He referenced concerns over fiat currency devaluation, drawing attention to government expenditure exceeding revenue by 43 cents.
According to Scaramucci, a potential economic downturn is looming due to the higher cost of paying back borrowed funds. He proposed Bitcoin, with its transparent and immutable transaction ledger, as a viable alternative to the flawed system. He went as far as to claim Bitcoin could become a store of value surpassing gold.
On the subject of rectifying the country's financial system, Scaramucci announced that the challenges ahead are manageable but require long-term political commitment. He compared the U.S's lack of long-term planning to China's excellent future-oriented strategies.