Anthony Scaramucci, founder of SkyBridge Capital and author of the upcoming book The Little Book of Bitcoin, has expressed his belief that a major government purchase of Bitcoin—potentially 500,000 BTC—will pass the US Senate. Speaking on the cashless podcast with host Ryan Sean Adams, Scaramucci suggested that top lawmakers are in line to launch a Bitcoin repository, despite perceived risks to the support of the US dollar.
Will Trump Buy Bitcoin?
Scaramucci, who maintains a close relationship with several lawmakers, spoke about the Senate’s current sentiments regarding the government’s takeover of Bitcoin and expressed broad support for Senator Cynthia Lummis’ bill. “They got the votes. Hagerty wants you. McCormack wants you,” he said. Speaking about whether he thinks the Senate would approve the plan to expand the government’s Bitcoin Holdings, he confirmed, “I think so, yes.”
Although Senator Lummis’ initial proposal included the purchase of up to a million BTC, Scaramucci argued that the final arrangement may be different. “These things get horse-traded so you’ll have 200,000 BTC that won’t be sold—maybe they’ll buy another 400,000 or 500,000 Bitcoin next. […],” he noted, leaving a precise timeline.
He also explained that Donald Trump will have a big impact on such a plan: “Trump wants it to happen and he has the Senate Banking Committee.” Tim Scott wants to make it happen—he’s going to be the chairman of the Senate Banking Committee.”
Another important takeaway from Scaramucci’s words is the strength of bipartisan support, even if notable opponents like Senator Elizabeth Warren (D-MA) and Senator Sherrod Brown (D-OH) have criticized pro-BTC and crypto measures in the past. .
Referring to the previous legislation, Scaramucci pointed out that “many Democrats voted for SAB Bill 121,” adding: “If you look at the breakdown of the vote, it was a double approval of that bill.” And by the way, Ryan, if you were under 60 and a Democrat, you voted for the bill. If you were a leftist like Elizabeth Warren or Sherrod Brown, you voted against it.”
He went on to name Ro Khanna (D-CA) as a Democrat who he believes is likely to support a Bitcoin terminal. According to Scaramucci, young legislators are increasingly viewing Bitcoin through the lens of “digital gold,” making them more open to subjecting it to federal capture.
A central theme in Scaramucci’s argument for Bitcoin’s strategic preservation is the comparison to gold. The US currently has about $600 billion worth of gold in reserves. In his view, devoting a portion of that money to BTC—even to the point of selling some gold reserves—could strengthen the US economy in the era of the digital revolution.
“If Bitcoin is digital gold, and we have $600 billion in gold in our Federal Reserve Bank, you’re telling me we couldn’t put $750 million to $1 billion in Bitcoin? Is that what you mean?” he asked, emphasizing the legitimacy of this method.
Scaramucci’s status goes beyond holding BTC; and he believes that if China or other major economies move quickly to Bitcoin reserves, the US could be at risk of losing its strategic advantage. He emphasized that the potential total of 400,000 or 500,000 BTC purchases could amount to about $70–$80 billion—which represents just 1–1.5% of the state’s $6 trillion budget, or about 30 basis points. assigned within five years.
“If you put me in that chair and say, ‘Is it in the national interest of the United States’ to have a Bitcoin strategic repository?’ I would agree,” said Scaramucci. “And if you were to tell me why, I would say three reasons. Number one, I believe it’s digital gold. Number three, we believe, rightly or wrongly, that the Chinese are going to buy Bitcoin.”
Critics of the US Strategic Bitcoin Reserve often argue that building a large reserve could undermine global confidence in the US dollar, raising questions about what the dollar is backed by. However, Scaramucci sees it differently, suggesting that the US can strengthen the dollar’s standing by remaining technologically competitive:
“Maybe because I’ve been in space for so long, I think we’re still a long way off,” he thought. “We are in a modern society. And Trump wants to make a statement. If we believe that the Chinese will go and do it [Bitcoin] strategic reserve asset, so what are we talking about? He’s talking about a small percentage of the budget to buy Bitcoin in five years, which would strengthen the dollar emotionally and put the United States on a better competitive footing.”
At press time, BTC traded at $93,702.
The featured image was created with DALL.E, a chart from TradingView.com