Anthony Scaramucci, known for his brief but high-profile stint as White House communications director in 2017, has once again made headlines. Despite his political distance from Donald Trump, the founder of SkyBridge Capital and his son, AJ Scaramucci, led a $220 million financing round for American Bitcoin, the mining company linked to the president’s sons: Eric Trump as a co-founder and Donald Trump Jr. as an investor.
The investment was made through Solari Capital, the firm created by AJ Scaramucci, which contributed more than $100 million to American Bitcoin’s pre-IPO round through a reverse merger in September. On the other hand, Anthony Scaramucci added a personal participation, the amount of which was not specified.
The company had never revealed who participated in the financing, but it is now known that Tony Robbins, Charles Hoskinson, Grant Cardone and Peter Diamandis were also among the investors.
According to AJ Scaramucci, the political differences between both families were not an obstacle to the agreement. “My father and Don Sr. (Donald Trump) have had their friction, of course, but bitcoin transcends politics,” he told Fortune. A vision shared by Anthony himself, who stated: “There may be a blue team and a red team, but there is also an orange team, and that is bitcoin.”
Market positioning
AJ Scaramucci personally led the deal thanks to his closeness with Matt Prusak, president of American Bitcoin and his former Stanford classmate. The company seeks to position itself in a market dominated by players such as Michael Saylor’s Strategy, betting on a hybrid model: mining Bitcoin and accumulating it on its balance sheet, in addition to acquiring more on the open market.
“Asher Genoot, president of American Bitcoin, stated that the Scaramucci family believes strongly in the project and decided to put aside any previous conflict to support the company,” he highlighted.
As reported by CriptoNoticias, American Bitcoin acquired 16,000 Bitcoin mining equipment in order to consolidate its position in the industry.