SkyBridge Capital founder Anthony Scaramucci said Treasury Secretary Scott Bessent's warning that the world is awash in debt is the strongest advertisement yet for Bitcoin, even as he expects the CLARITY Act to fail because of the optics of President Trump's crypto ventures earning more than $1 billion.
A sitting US Treasury secretary flagging the scale of global borrowing has become the crypto industry's most prominent talking point, after SkyBridge Capital founder Anthony Scaramucci cast Scott Bessent's G20 warning as an inadvertent pitch for Bitcoin. Speaking Thursday at the SALT Wyoming Blockchain Symposium, Scaramucci said Bessent's remark that "the world is awash in debt" was "the best BTC ad," reading the top finance official's words as support for the token's case as a hedge against fiscal strain. Bessent made the comment days earlier at the Group of 20 gathering in Asheville, North Carolina, where he pressed a US growth agenda and accused Chinese officials of blocking a joint communique over language disputes.
"Bitcoin to me is still a global asset with a global brand," Scaramucci said, arguing that a Treasury secretary publicly acknowledging the scale of global borrowing reinforces the macro rationale for a fixed-supply asset outside government control.
The endorsement lands as Scaramucci grows more pessimistic that Washington will deliver the regulatory clarity the industry has sought. He said the CLARITY Act, the long-awaited market-structure bill, looks politically dead, with odds of passage this year sliding to fresh lows on prediction markets Polymarket and Kalshi. Scaramucci blamed the optics of President Donald Trump's crypto ventures, which he said have taken in more than $1 billion since Trump returned to office, for eroding the Democratic support needed to pass the measure. "They put this massive ethics provision into the deal, which has slowed down the deal and possibly even extinguished it," he said.
Even so, Scaramucci argued Bitcoin is largely insulated from the regulatory impasse because Wall Street has already embraced it through exchange-traded funds and tokenization. He said the token is "probably in the late stages of the four year cycle now" and predicted prices would rally again by October. The macro backdrop, he suggested, is doing the marketing that Congress has failed to deliver.
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