U.S. Treasury Secretary Scott Bessent warned on September 3 that the world is « awash in debt » during the G20 Finance Ministers meeting in Asheville, North Carolina. Anthony Scaramucci, founder of SkyBridge Capital and longtime Bitcoin advocate, seized on the remarks as an inadvertent advertisement for the cryptocurrency, stating that Bitcoin’s entire pitch is that sentence. BTC reached an intraday high of $81,332 according to CoinGecko data. Bessent was not endorsing Bitcoin but arguing for economic growth to address the debt burden accumulated since the 2008 financial crisis. Scaramucci believes that a senior U.S. Treasury official acknowledging the scale of global indebtedness before the world’s leading finance ministers reinforces the problem Bitcoin was designed to address.
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