Anthony Scaramucci has a word of caution for crypto enthusiasts enthusiastic about Donald Trump’s capture of the industry.
“Trump was very negative about Bitcoin and digital assets when he was President. Now he has changed completely because he wants your votes. No one can predict what he will do in the White House. He absolutely loves to trade,” Scaramucci speak on the Unchained podcast.
Anthony Scaramucci – Founder of Skybridge Capital
That’s why Scaramucci, founder of Skybridge Captial and former communications director under Trump, said he will vote for President Joe Biden this November.
He even predicted Bitcoin and other digital assets will reach new all-time highs during Biden’s second term.
Scaramucci has previously been forecast Bitcoin will reach $170,000 next year.
While he may disagree with Biden on policy, Scaramucci will vote for him for another four years because Biden provides an important element to capital markets: Stability.
“If you are a capitalist, the number one thing you need in a capitalist society is the predictability of the rule of law.”
He reminded viewers that Bitcoin has increased from $17,000 to $70,000 under Biden.
During that time, the US Securities and Exchange Commission (SEC) also approved 11 different Bitcoin spot ETFs.
“Yes, we had to win a lawsuit, but at least the traditional processes were in place,” Scaramucci said, referring to Grayscale’s lawsuit against the SEC over converting the Grayscale Bitcoin Trust into an ETF.
He will also vote for Biden as the administration seems to be changing its stance on cryptocurrencies.
The president has blocked the repeal of a key tax framework called SAB 121* that would make it easier for big banks to hold cryptocurrencies, but Scaramucci predicts he will sign another document during the next congressional term. according to.
That’s because the Biden campaign has now recognized the political weight of the crypto community.
“We won and the anti-crypto people lost. Follow the rule of law and follow traditional democracy.”
*SAB 121 is a U.S. SEC notice providing guidance on how public companies should treat and report accounting for digital assets, such as cryptocurrencies, on their financial statements. Released in March 2022, SAB 121 requires financial institutions and companies that protect customers’ digital assets to consolidate assets on their balance sheets and disclose certain information. certain belief.
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