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Epic Debate About Bitcoin Vs Gold, Which is Superior?

Scaramucci also refuted Schiff's argument by highlighting that only 5% of gold's value comes from production purposes, with the majority attributed to its acceptance as a store of value.

He emphasized that Bitcoin, like gold, has a deflationary aspect due to its fixed supply. Scaramucci views Bitcoin as “digital gold”, noting its portability compared to physical gold.

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He also pointed out that Bitcoin is following an adoption curve that will impact its value over decades, likening it to the trajectory of technology stocks that become standard over time and contribute to the S&P 500 index.

Bitcoin Reaches USD 63,000 Again

Cryptocurrencies rebounded in Friday trading, driven by rising Bitcoin (BTC) prices, raising optimism that the recent drawdown may be easing. BTC rose nearly 5%, briefly surpassing USD 63,000.

The jump followed a cooler-than-expected US jobs report in April, easing concerns about a potential interest rate hike.

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Epic Debate About Bitcoin Vs Gold, Which is Superior?

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