Billionaire investor and SkyBridge Capital founder Anthony Scaramucci founder Anthony Scaramucci has once again spotlighted Bitcoin (BTC) in his recent post about the coin. Taking to his official X page, Scaramucci noted that the United States dollar is far from losing its appeal. He showcased how the value of a dollar from 2020 is now worth just about 75 cents.
The reduction in the value of the U.S. dollar, and technically, most fiat currencies prove that these Central Bank notes are not worth relying on as a store of value. The 25.14% compounded inflation rate recorded by Bitcoin is deemed a major red flag, one investors need to take caution from.
As succor to his followers, Anthony Scaramucci admonished the buying of Bitcoin as a getaway from fiat’s “truflation.” The Bitcoin position of Anthony Scaramucci is one that many in the Bitcoin ecosystem are in support of. Industry leaders like Michael Saylor have since lost faith in the purchasing power of Bitcoin overall.
Dollar from 2020 is now worth 75 cents. Buy Bitcoin credit @balajis pic.twitter.com/WzIosKfJv2
— Anthony Scaramucci (@Scaramucci) April 26, 2024
Coincidentally, Michael Saylor’s MicroStrategy Incorporated started investing in Bitcoin in August 2020, a move that has earned the firm major acclaim as a key BTC promoter. With more than 214,000 Bitcoin units in its portfolio and a massive return on its investment, MicroStrategy has proven that BTC is an asset that is worth everyone’s attention.
Comparative Bitcoin growth trends
Unlike the U.S. dollar, which has been nosediving since 2020, Bitcoin has seen comparatively bullish traction within the same time. Back in March, Bitcoin soared to its all-time high (ATH) above $73,000 as it registered itself as a major asset in the world.
Switching from fiat reserve to Bitcoin has largely positioned MicroStrategy as a top company to reckon with. At the moment, there are indications that MicroStrategy may be added to the S&P 500 list as it is boosted by its Bitcoin embrace.
