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Trump's Bitcoin Stance: Scaramucci Reveals Bipartisan Reserve Plan

Coin WorldFriday, Jan 31, 2025 3:51 pm ET

1min read

The Trump administration's stance on Bitcoin and cryptocurrencies has been a topic of interest in recent weeks, with Anthony Scaramucci, Founder and Co-Managing Partner at SkyBridge Capital, providing fresh insights into the new administration's approach. In an interview with CNBC, Scaramucci discussed the recent market downturn and the Trump administration's regulatory shifts, highlighting the potential for a bipartisan Bitcoin strategic reserve.

Scaramucci began by addressing the recent market downturn, which some attributed to "Deepseek drama," an apparent catalyst for short-term volatility. However, he pointed out that Bitcoin's current price remains notably higher than it was before Election Day. He attributed the market's reaction to the AI news, which was perceived negatively in the US. Scaramucci also acknowledged that Bitcoin's price has slipped since President Trump took office, attributing part of this to short-term disappointment among traders who expected immediate, sweeping pro-Bitcoin action.

One of the most notable revelations concerned the idea of a strategic Bitcoin reserve. Scaramucci emphasized that Crypto Czar David Sacks aims to build a lasting, bipartisan framework to avoid a scenario where shifting control of the White House triggers a reversal of crypto policies. The intention is to create a more measured approach that did not initially thrill short-term traders who expected immediate action from President Trump.

Scaramucci also touched on potential regulatory shifts, referencing the departure of former SEC Chair Gary Gensler and the desire for clear regulatory guidelines. He expects a new piece of crypto legislation before February 2026 that will clarify stablecoin regulations and precisely which agency—SEC or CFTC—will oversee Bitcoin. On the investment products front, Scaramucci highlighted the possibility of a Solana futures ETF, hinting that such a move would pave the way for a Solana spot ETF, similar to Ethereum's existing ETFs.

Despite near-term fluctuations and recent market angst, Scaramucci's outlook remains optimistic. He affirmed his stance as a "Bitcoin maximalist," reiterating that he expects the coin's price to reach $200,000 by the end of the year. At press time, BTC traded at $104,134.

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