Scaramucci buys bitcoin during market downturn
Anthony Scaramucci, the founder of SkyBridge Capital, said he’s been actively buying bitcoin during the recent market decline. Speaking at Consensus Hong Kong, he revealed specific purchase points that caught my attention.
“We bought bitcoin at $84,000 ten days ago, then again at $63,000 last week,” Scaramucci told Bullish CEO Tom Farley. “This week, we’re still buyers in this market.”
He acknowledged the risk, comparing buying during a downturn to catching a falling knife. That’s a pretty honest assessment, I think. Bitcoin did drop to nearly $60,000 recently, which is quite a fall from its October peak above $126,000. Prices have recovered a bit to around $69,000, but the volatility shows no signs of stopping.
Trump’s crypto presidency and political complications
Scaramucci made an interesting political observation, calling Donald Trump a “crypto president.” He suggested Trump is much better for the crypto industry than his predecessor, but then added a significant caveat.
The political dynamics might actually work against crypto legislation, according to Scaramucci. He pointed to Trump’s “Greenland ambitions” as an example of how the president’s actions can create opposition that spills over into crypto policy.
“If he does stuff like that, it upsets the opposition to the point where they’re like, You know what? We don’t want him to win on anything,” Scaramucci explained. “Even if it’s going to spite ourselves and cut our own horses off, we will vote against the crypto bill to hurt Donald Trump.”
That’s a pretty stark assessment of how political polarization might affect digital asset regulation. It suggests that even when there might be bipartisan support for crypto legislation, political gamesmanship could derail progress.
Solana’s potential market share growth
Beyond bitcoin and politics, Scaramucci also commented on Layer 1 blockchains. He specifically mentioned Solana as a platform that could capture significant market share in the coming period.
“Programmable blockchain Solana will be one of the biggest market share gatherers,” he said during the conversation.
This isn’t surprising given Solana’s recent performance and developer activity, but coming from someone with Scaramucci’s institutional background, it carries some weight. The Layer 1 space remains competitive, with multiple platforms vying for developer attention and user adoption.
What strikes me about Scaramucci’s comments is the combination of tactical trading moves with broader market and political analysis. He’s buying the dip while also thinking about how presidential politics might shape regulatory outcomes. That dual perspective—short-term trading opportunities versus long-term policy impacts—is something retail investors might not always consider.
The bitcoin ETF market has shown signs of capitulation recently, which might explain some of the price volatility. Institutional flows into these products have been a major story this year, and any shifts in that pattern tend to move markets.
Scaramucci’s approach seems to be one of cautious accumulation during weakness, combined with an eye on structural factors that could affect the entire digital asset space. Whether this strategy pays off remains to be seen, but it’s certainly a perspective worth noting.
