SkyBridge Capital Founder Advocates Bitcoin Amidst Dollar Devaluation

According to U.Today, Anthony Scaramucci, the billionaire investor and founder of SkyBridge Capital, has recently emphasized the importance of Bitcoin (BTC) in a post. He highlighted that the United States dollar has not lost its appeal, despite its value decreasing from a dollar in 2020 to approximately 75 cents now. This reduction in the U.S. dollar's value, and in most fiat currencies, indicates that these Central Bank notes are not reliable as a store of value. Bitcoin's recorded compounded inflation rate of 25.14% is seen as a significant warning sign that investors should heed. Scaramucci advised his followers to consider buying Bitcoin as an escape from fiat's 'truflation.' His stance on Bitcoin is supported by many in the Bitcoin ecosystem. Industry leaders like Michael Saylor have lost faith in Bitcoin's overall purchasing power. Interestingly, Saylor's company, MicroStrategy Incorporated, began investing in Bitcoin in August 2020. This move has earned the company significant recognition as a major BTC promoter. With over 214,000 Bitcoin units in its portfolio and a substantial return on its investment, MicroStrategy has demonstrated that BTC is an asset worth everyone's attention. Unlike the U.S. dollar, which has been on a downward trend since 2020, Bitcoin has experienced comparatively bullish traction within the same period. In March, Bitcoin reached its all-time high above $73,000, establishing itself as a significant asset globally. MicroStrategy's shift from fiat reserve to Bitcoin has largely positioned it as a leading company. Currently, there are indications that MicroStrategy may be added to the S&P 500 list, bolstered by its embrace of Bitcoin.