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To Scaramucci, Bitcoin is still an early-stage technical asset that will trade like any risk asset for the foreseeable future. While he pointed out the growth traction thus far, he said Bitcoin indeed has some hedging features, but it still has intense volatility to contend with.asked the correct question over the weekend: Why is Bitcoin down if it’s an inflation hedge and store of value? It’s important to remember that it’s neither of those at the current percentage of global adoption.
Another major myth Anthony Scramucci debunked is whether or not Bitcoin is still in its early stages. With Bitcoin Using the airplane invention as a case study, he said despite the Wright Brothers inventing the airplane by 1903, critics say the innovation could not be commercialized by 1918. Given how the airplane has evolved to date, Scaramucci is optimistic that Bitcoin will be worth much more in the long term.
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