Crypto Expert Tells Anthony Scaramucci That Gold And Bitcoin Are Safeguards Against Currency Debasement
By Benzinga
In a recent interview with Anthony Scaramucci, crypto analyst Noelle Acheson offered insights on the interplay between macroeconomics and cryptocurrency, highlighting Bitcoin’s (CRYPTO: BTC) potential as a hedge against economic instability.
What Happened: In an episode of Wealthion, Acheson views Bitcoin and gold as safeguards against currency debasement and political turmoil.
She emphasized to Scaramucci, who will be a headline speaker at Benzinga’s upcoming Future of Digital Assets event on Nov. 19, that currency debasement leads to widening inequality, which leads to greater polarization.
Acheson stated that despite all the political instability, gold has still managed to peak at all-time highs. This sends a message to investors that bitcoin has still not reached its peak and can do so but currently remains impacted by legal irregularities, and political concerns in the crypto sector.
She suggests that bitcoin and gold remain the two best options for investments in such an environment.
On Bitcoin’s future price, Acheson remained cautiously optimistic, noting that a rise to $100,000 by year-end is “not out of the question,” though she stressed the difficulty of precise predictions. She said that for this prediction, it will have to move higher by 0.45% daily.
She links the price prediction to the supply factor, comparing it to gold whose scarcity in supply can be met by alternate methods of production if prices reach $100,000. However, this is not the case with Bitcoin.
Looking ahead, Acheson expressed concerns about a potential economic slowdown, warning, “This is heading into that dreaded word stagflation which is not off the table for next year.”
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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