Key Takeaways
- Despite Anthony Scaramucci’s public break with Donald Trump, he and his son AJ invested heavily in American Bitcoin.
- The move signals growing institutional confidence in the long-term value of Bitcoin and its mining infrastructure.
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American Bitcoin, a Bitcoin mining and accumulation company co-led by Eric Trump and Donald Trump Jr., secured a $220 million pre-IPO funding round in July led by Solari Capital, according to Fortune.
Founded by AJ Scaramucci, son of Anthony Scaramucci, Solari Capital invested more than $100 million, with Anthony Scaramucci adding a small personal stake.
Cardano founder Charles Hoskinson, real-estate investor Grant Cardone, and entrepreneur Peter Diamandis also joined the round.
The investment was made despite Anthony Scaramucci publicly breaking with Donald Trump after briefly serving as Trump’s White House communications director in 2017. Scaramucci has since become a vocal critic of Trump.
Scaramucci, through SkyBridge Capital, has spearheaded investments in Bitcoin mining, emphasizing the asset’s appeal beyond political affiliations. The investment reflects growing institutional confidence in Bitcoin’s long-term prospects amid persistent demand exceeding supply.
Prominent hedge fund managers express confidence in Bitcoin’s future dominance over tech giants due to sustained market dynamics. Investors describe Bitcoin as transcending politics, even in ventures tied to the President’s family, fostering broader adoption in crypto mining operations.