A recent live debate on YouTube, sponsored by ZeroHedge, brought together prominent figures to discuss the role of Bitcoin and gold as inflation hedges. Anthony Scaramucci from SkyBridge Capital and Peter Schiff, a well-known Bitcoin skeptic, led the conversation. They were joined by Erik Voorhees, CEO of ShapeShift, and Nouriel Roubini, an economics professor at NYU. The discussion centered on whether Bitcoin could compete with or even surpass gold as a store of value during periods of inflation.

Peter Schiff began by pointing out that Bitcoin's digital nature makes it non-functional. He noted that its slow speed and high transaction costs hinder its daily use. According to Schiff, supporters of Bitcoin mistakenly label it as "digital gold." He emphasized that unlike gold, Bitcoin lacks tangible utility and intrinsic value, which are crucial for long-term value.

In response, Anthony Scaramucci defended Bitcoin, highlighting its fixed supply and the ability to store value over time. He noted that gold's industrial usage accounts for only a small portion of its value, and that Bitcoin shares this feature, with added advantages of portability and growing acceptance that could enhance its standing over time.

The debate also touched on the broader implications of cryptocurrency dispersion on conventional financial systems. Both Schiff's and Scaramucci's ideas concern the potential influence that digital currencies might have on economic policies and the global banking system. This debate highlighted the ongoing changes in financial assets and their roles in economic stability.

In terms of market performance, Bitcoin experienced small fluctuations over the last 24 hours. According to TradingView data, the price of Bitcoin started slightly below its previous close, experienced a short hike in the early hours, followed by a short decline, and then rose to its peak before falling. As of the latest update, BTC was trading at $63,541, marking a 2.69% increase from the previous day. Despite a monthly decline of 3.79%, the six-month outlook shows an impressive 81.16% rise. This volatility underscores the ongoing debates about Bitcoin's viability as an investment and a hedge against inflation.