Former White House Communications Director Anthony Scaramucci is warning that a fresh wave of U.S. tariffs could push the economy into recession but in doing so, it might also boost Bitcoin and strengthen European markets.
In an exclusive interview with Saxo, shared with crypto.news, Scaramucci discussed the far-reaching impacts of potential tariffs proposed by the Trump administration. According to the SkyBridge Capital founder, while the U.S. would suffer economically, Bitcoin could emerge as a major beneficiary.
“Bitcoin is starting to trade a little bit like gold,” Scaramucci said, noting a recent shift where Bitcoin has shown non-correlation with traditional tech stocks like those in the NASDAQ and the “MAG7” group. He attributes this to strong inflows into Bitcoin ETFs, particularly those launched by BlackRock and other major players, which are helping solidify Bitcoin’s status as a hedge asset.
On the global stage, Scaramucci emphasized that no economy would remain untouched. “If the U.S. goes into a recession, it’s going to pull the rest of the world into a recession,” he said. However, he noted that European markets specifically the FTSE and DAX—have been relatively outperforming U.S. markets since trade war fears reignited.
He pointed out that long-term international investors are starting to lose confidence in U.S. stability. Countries like Germany and the UK are investing in defense and infrastructure, suggesting future profitability for their industries. This could give European industrial nations an advantage, even as the broader global economy suffers.
Scaramucci cautioned, however, that the overall impact would still be negative. “Everyone’s going to get hurt,” he said, blaming the unpredictable nature of Trump’s policies for injecting greater uncertainty into the capital markets.
As fears of a new trade war mount, Bitcoin and European equities may stand to gain but at the cost of broader global economic stability.
