SkyBridge Capital founder Anthony Scaramucci is not backing away from Bitcoin.
Scaramucci, a Goldman Sachs veteran briefly served as White House Communications Director under Trump in 2017 before being dismissed after just 11 days. He has since become one of Wall Street’s most vocal Bitcoin advocates.
In a post on X Scaramucci laid out five specific reasons he remains bullish, even as the asset has struggled through a difficult stretch.
Scarcity enforced by code, not promises
Scaramucci’s first point centers on Bitcoin’s fixed supply. With a 21 million coin cap enforced by code rather than policy, he argued the asset stands apart in a world carrying $37 trillion in debt.
“That’s the whole thesis,” he wrote.
This is a forced selloff, not a broken thesis
His second point attributed the recent decline to mechanical selling pressure rather than any deterioration in fundamentals.
Miners covering operating costs and leveraged positions unwinding, he said, are driving the move, not a change in the underlying case for Bitcoin.
Related: Economist who predicted 2008 crash reveals next Bitcoin target
Institutional infrastructure isn’t going anywhere
Scaramucci’s third point focused on the institutional rails built since 2024. Custody solutions, ETF infrastructure, and regulated trading access, he argued, don’t disappear because the price has fallen.
He described that infrastructure as a permanent floor under the asset, regardless of short-term price action.
A $1.3 trillion asset chasing a $29 trillion market
The Wall Street veteran’s fourth point focused on the size gap between Bitcoin’s market capitalization, roughly $1.3 trillion, and gold’s, at approximately $29 trillion.
Scaramucci’s argument is one of proportion rather than prediction: capturing even 10 percent of gold’s role as a store of value would represent a multiple of Bitcoin’s current size, not a marginal percentage gain.
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Pessimism as a signal, not a warning
His final point was about sentiment itself.
Scaramucci argued that maximum pessimism has historically marked entry points in Bitcoin’s history, noting that “every bottom looked like this.”
A familiar voice, holding its ground
Scaramucci has built much of his public profile in recent years around consistent Bitcoin advocacy, often making the case during periods when sentiment has turned sharply negative.
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