7.1 C
25 April 2024
Image default

BRICS: Expert Says ‘Buy Bitcoin’ Over US Dollar As Crisis Nears

Following the BRICS de-dollarization plan throughout the last year, one prominent economist has called for Bitcoin acquisition over the US dollar as the crisis nears. Specifically, notable financier and former White House Communications Director Anthony Scaramucci has posted to X (Formerly Twitter) urging his followers to buy the digital asset.

Within the post, Scaramucci shared a Yahoo Finance story discussing the country’s fragile economic state. Moreover, the publication stated that amid a million different simulations, 88% showed “the debt-to-GDP ratio is on an unsustainable path.” Therefore, many have begun to worry over impending economic detriment awaiting the country’s current trajectory.

Also Read: BRICS: Russia & China Driving Global Shift From US Dollar to Gold

Anthony Scaramucci Calls for Bitcoin Over the Dollar Amid Budding US Economic Crisis

Throughout the last several years, the United States has combated growing inflation. That fight led the Federal Reserve to increase interest rates to stabilize the growing number. Now, as that figure has begun to calm, the country is waiting for interest rate cuts to take place.

However, the inflation fight has taken center stage with another concern growing in the shadow. That is the country’s ever-increasing economic debt, a figure that could spell disaster. Amid BRICS’s work against the greenback over the last several years, economics Anthony Scaramucci has called for people to buy Bitcoin over the US dollar amid the nearing crisis.

In the concise but harrowing post, Scaramucci urged followers to “Buy Bitcoin. Get ready. They won’t stop.” In the post, he linked to a story regarding the growing debt, and its unsustainable path. Although, Scaramucci isn’t the only voice that has spoken out about the debt crisis.

Anthony Scaramucci to Invest in Ex-FTX US Head’s Crypto Company
Source: Vanity Fair

Also Read: BRICS: Russia to Test Digital Ruble For Citizens & Businesses

BlackRock CEO Larry Fink had recently noted the growing debt crisis being more troublesome than he’s ever seen. Additionally, JP Morgan & Chase CEO Jamie Dimon spoke on the issue’s need to be addressed while the country is capable of making a change.

The developing fragility of the economy has led many central banks to seek diversification in their holdings. Specifically, countries have opted to buy gold as a haven asset or seek to increase foreign currency acquisition.

These efforts were first set forth by the BRICS economic alliance and instituted on a collective-wide scale. Yet, the development denotes a growing concern over the dollar’s tense situation in the current landscape. For now, the push for Bitcoin and digital assets appears to be a further defense for individuals.

Related posts

Vitalik Buterin’s Massive Funds Transition Continues: Almost $5 Million This Month


TRON in 2019: What TRX Cryptocurrency Coin Expectations Will Unfold From Justin Sun’s Network?


Percentage of Ethereum Held on Crypto Exchanges Drops to a 2 Yr Low

Verified by MonsterInsights