https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.youtube.com/watch%3Fv%3DkZFmgfCakXc&ved=2ahUKEwjQl8D2yZCKAxWDJzQIHRv9AUgQwqsBegQIBxAF&usg=AOvVaw3dRxf6PkuWT6LtYijdBPeL Sorry if the address above isn't a workable link. I'm horrible at cutting and pasting internet links here.
With that said the above two hour debate, probably one of a thousand Bitcoin vs gold debates, contains a lot of decent information on properties of currencies, commodities, stores of value, taxation policies, inflation, etc. Many of you may already know a lot about these subjects and have opinions on the four debaters. For a novice like me I found it interesting. And I've only watched half. Like him or not I found Scaramucci's statements interesting. He said he didn't think Bitcoin would ever be the official currency in the world or maybe even in any country. But he thinks that with the number of people throughout the world that already use it it has the ability to grow in value because of its perceived value(real or imaginary) as a currency free from government intervention. I hope I've summarized his statements correctly. It's the reason he's investing in it not because he thinks it will be officially adopted. So yes... speculation. Ironically, one of Bitcoin's main assets, more can't be made so it can't be inflated away, seems to be at odds with its current wild price swings. I'm guessing its proponents are waiting for a day when it is so widely adopted that it becomes more stable in price. I myself have no experience with currency markets and don't know the history of investing in world currencies. Maybe these types of wild price swings have happened for decades and investors have traded them.