Foreign media reported that after U.S. Treasury Secretary Bentsen discussed global debt issues at the G20 meeting of finance ministers and central bank governors, Anthony Scaramucci, founder of SkyBridge Capital, seized the opportunity to claim that the remarks amounted to Bitcoin’s “ad of the year.” The focus of this discussion is not on any official shift toward supporting Bitcoin, but rather on how Bitcoin supporters are reinterpreting macroeconomic debt pressures as part of their long-term narrative.
Scaramucci speaks out on the debt issue
On September 3, Scaramucci posted on X that Bessent explicitly stated at the G20 that "the world is being drowned in debt," which is one of Bitcoin's core arguments. He believes that when multiple finance ministers discussed sovereign debt pressures, they once again revealed the long-standing issues facing traditional fiscal and monetary systems.
Scaramucci did not interpret Bessent’s remarks as a direct endorsement of BTC, but emphasized that such public statements from high-level policy forums reinforce the market’s perception of Bitcoin’s scarcity and its independence from sovereign credit systems.
Bessen focuses on the global debt burden.
Bessenet made the above remarks during the G20 meeting of finance ministers and central bank governors held in Asheville, North Carolina, USA, from August 31 to September 1. He noted that since the 2008 financial crisis, global debt has accumulated significantly, and countries need to rely on stronger economic growth to absorb the debt burden, rather than depending solely on contractionary measures such as spending cuts.
The report notes that major economies are currently facing a backdrop of rising government borrowing costs, an aging population, and weak productivity growth. The G20 chair’s statement also highlighted that all parties remain committed to addressing debt sustainability issues.
The Bitcoin narrative is returning to macro themes.
For a long time, Bitcoin supporters have argued that growing fiscal deficits and government borrowing erode the purchasing power of fiat currencies, making Bitcoin, with its fixed supply, more attractive in such an environment. Scaramucci’s recent remarks continue this line of reasoning.
On the market level, CoinGecko data shows that Bitcoin rose to an intraday high of $81,332. However, this commentary emphasizes the resonance at the narrative level rather than directly attributing the price movement to Bessent’s remarks.
- Bessent's speaking occasion: G20 Meeting of Finance Ministers and Central Bank Governors
- Meeting dates: August 31 to September 1
- BTC intraday high: $81,332