Trump and Cryptocurrencies

According to Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director, Republican presidential candidate Donald Trump would be "more positively disposed" to cryptocurrencies than the current Biden administration if he wins the presidential election this November.

Scaramucci indicated that a Trump victory could potentially boost Bitcoin's price to $100,000 or more, with Bitcoin selling for over $62,100 as of Wednesday morning. Trump has begun to embrace digital assets, pledging to transform the US into the "crypto capital of the world" through lighter regulations and a national Bitcoin stockpile.

Recently, Trump and his family launched a new cryptocurrency business named World Liberty Financial, though specific details about its operations remain scarce. Scaramucci noted, "Bitcoin and crypto is a Trump trade, so he has become demonstrable for it; he's an advocate for it."

However, Scaramucci also acknowledged that Trump is a "polarizing" figure. He expressed concerns that Trump's damaging actions toward international alliances could undermine crypto's progress, emphasizing the importance of bipartisan support for any crypto involvement by Trump. Scaramucci himself has publicly criticized Trump while endorsing Kamala Harris, his Democratic rival for the 2024 presidential race. He is actively working with Harris’s campaign to shape her cryptocurrency policies.

He articulated that a Harris administration would adopt a more traditional regulatory approach to cryptocurrencies, cautioning that many Democrats might oppose digital assets simply due to Trump's support. Ultimately, Scaramucci hopes to see a reduction in politicization around regulatory decisions, advocating a focus on ethical considerations instead. In a previous interview, Scaramucci suggested that mainstream adoption could drive significant growth for Bitcoin, projecting its price could reach $170,000 before a Bitcoin halving event next April.