Anthony Scaramucci Claims His Bitcoin Investment Has Quadrupled to $1 Billion


SkyBridge Capital founder Anthony Scaramucci claimed Monday that he had more than quadrupled a $250 million bitcoin investment.

“I have over a billion in bitcoin now,” Scaramucci said in a morning interview with CNBC. “I started accumulating that position last year. I think that this manifests itself into a gigantic asset class. This is equivalent, to me, to digital gold.”

Scaramucci, who spent 11 days as the White House communications director under former President Donald Trump, has been a vocal proponent of bitcoin, Algorand, and other cryptocurrencies since leaving the White House. His hedge fund launched a bitcoin fund worth $300 million in early January, and last month, filed to manage an exchange-traded fund (ETF) for cryptocurrency, in addition to establishing a partnership with NAX, a trading platform.

His enthusiastic participation in the digital-currency sphere stands in contrast to his former boss. Trump said in July bitcoin “seems like a scam,” and that he believed “the currency of this would should be the dollar.”

However, Scaramucci said on Monday, he did not view himself as a “bitcoin evangelist.”

“I don’t think that Jesus and Moses got together and had a baby and named it bitcoin,” he said. “That’s not me. But I am an investor in this, because I see the technical properties associated with it. Ultimately, this is a delayering mechanism for the society. … It’s a ledger defined by math. And if you think about the history of money, a ledger defined by math that has a scarcity to it — where no politician or policymaker can corrupt it or add supply to it — I think is a fascinating thing, and I think it’ll have a big position in the global economy over the next decade.”

The price of bitcoin as of Monday stood a little higher than $63,000, rising from $28,000 on the first of the year. Scaramucci predicted in February — when bitcoin was priced around $37,000 — that it would “easily” exceed $100,000 by the end of 2021.

“If you had one cent in bitcoin and 99 cents in cash over the last decade, you outperformed everything,” he added on Monday.

Watch above via CNBC.

Have a tip we should know?

Filed Under: