Anthony Scaramucci "Bitcoin Passes All Monetary Standards"...Will it Become Real Money?

▲ Bitcoin (BTC), Dollar (USD)

With the assessment that Bitcoin (BTC) has met all the 'conditions for money,' the long-term bullish argument is gaining traction once again.

According to Benzinga, a virtual asset media outlet, on April 20 (local time), SkyBridge Capital founder Anthony Scaramucci emphasized that Bitcoin meets all historically defined conditions for money. He stated, "Bitcoin possesses all the characteristics that have defined money throughout human history."

Scaramucci explained that trust is the core of currency. He said, "The dollar is just paper, but it has value because people trust it." He then assessed that Bitcoin has built its own trust system within a decentralized structure for 16 years. He analyzed that its ability to operate without a central authority is a strong point.

He also emphasized Bitcoin's scarcity and mobility. He saw the limited total supply of 21 million units as a key factor for it as a store of value. Its ability to move faster than gold and be easily stored were also cited as strengths.

He also positively evaluated the inflow of institutional funds. He stated that Bitcoin is increasingly being incorporated into individual and institutional portfolios. He diagnosed that it is in the process of establishing itself as a global investment asset.

However, counterarguments also exist. Some economists point out that Bitcoin is still unstable as a medium of exchange or a store of value. The criticism is that its volatility is too high to function as actual money.

Nevertheless, market data shows a trend of wider adoption. Bitcoin has been counted as the most widely used cryptocurrency for payments. In the United States, approximately 39% of stores accept cryptocurrency payments, and about 2,300 companies have adopted Bitcoin as a direct payment method.

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