Anthony Scaramucci, a prominent financial figure and critic of the current administration, believes Bitcoin’s price could surge to $500,000 due to excessive government spending in the US. Scaramucci argues that the Department of Government Efficiency (DOGE) has undermined the illusion of governments’ ability to cut expenditures by an estimated $2 trillion. He highlights a recent Bloomberg op-ed by columnist Justin Fox arguing that despite layoffs and budget cuts, DOGE spending continued to rise, suggesting the US government may struggle with fiscal responsibility. This sentiment is echoed by Scaramucci who believes government spending will contribute to Bitcoin’s future growth. However, it’s worth noting that while Bitcoin recently reached its all-time high of $112,000, recent market dynamics have seen some gains decline.