‘Bitcoin Has Built Its Own Trust System’
In an X post, Scaramucci emphasized the trustworthiness of Bitcoin, comparing it to the trust people have in fiat currencies.
“A dollar bill is made of linen and cotton. But we accept it because we trust it,” Scaramucci stated. “Over 16 years, Bitcoin has built its own trust system — decentralized, no central authority, no single point of failure.”
“It’s becoming part of the model portfolio for individuals and institutions worldwide,” the financier said.Scaramucci then stressed the oft-repeated scarcity narrative of Bitcoin, i.e, its 21 million supply cap, and the fact that it is “faster to move and easier to store” than gold.
“Every characteristic that has defined money throughout human history — Bitcoin checks every single box,” he noted. “That’s why I’m bullish.”
Not Everyone Agrees
Economist Tony Annett countered Scaramucci’s claim, asserting that Bitcoin fails as a medium of exchange, unit of account, or reliable store of value.
What Data Tells Us
Notably, Bitcoin consistently ranked as the most used cryptocurrency for payments, according to payment processor Coingate, accounting for 44% of all transactions between 2014 and 2025.
Additionally, roughly 39% of U.S. merchants accept cryptocurrency payments, with around 2,300 businesses directly accepting Bitcoin, according to a February report by CoinLaw.
Price Action: At the time of writing, BTC was exchanging hands at $74,499.77, down 1.62% in the last 24 hours, according to data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of and was reviewed and published by Benzinga editors.
Photo Courtesy: Al Teich On Shutterstock
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