Republican presidential candidate Donald Trump would be “more positively disposed” to cryptocurrencies than the Biden administration if he wins this November’s presidential election, according to SkyBridge Capital founder and former White House Communications Director Anthony Scaramucci.
He also said a victory for Trump, who has recently come out in favor of crypto despite previously calling it a “scam”, could send the price of Bitcoin up to $100,000 or above. Bitcoin was exchanging hands at more than $62,100 on Wednesday morning.
Trump has moved to embrace digital assets, even promising to turn the US into the “crypto capital of the world” through lighter regulation and a national stockpile of Bitcoin.
Last month, Trump and his family also unveiled a new cryptocurrency business, dubbed World Liberty Financial, although few details about its services or finances were provided.
“Bitcoin and crypto is a Trump trade so he has become demonstrable for it, he’s an advocate for it,” said Scaramucci, who was responding to questions submitted by Investing.com to an interview he held with Saxo Bank.
But Scaramucci, who previously held a short-lived post as White House Communications Director during the opening days of Trump’s first term in office in 2017, noted that the former president remains a “polarizing” figure.
“If he’s damaging our alliances or creating lots of havoc in the world, I’m not sure how that’s going to help anybody in crypto,” he said. “It’s important to understand that you want Trump’s involvement to be bipartisan, as it could be too polarizing.”
Scaramucci has publicly criticized Trump in the run-up to the Nov. 5 vote, and endorsed Kamala Harris, Trump’s Democratic rival in the 2024 presidential race. He also said he is working with Harris’ campaign to develop her policies regarding cryptocurrencies.
“A Harris administration will have a more typical regulatory approach to crypto and Bitcoin,” he said. Many Democrats would also likely be “against” digital assets “just because Trump is for it,” Scaramucci added.
“I would like to see this calm down. I think we have to depoliticize our regulatory decisions and make them more about right or wrong as opposed to left or right.”
In September, Scaramucci told CNBC that Harris has been meeting with crypto backers who are attempting to persuade her to support industry-friendly policies.
An outspoken proponent of Bitcoin, Scaramucci has previously argued that mainstream adoption could help fuel the growth of the world’s most popular digital asset. Prior to a so-called Bitcoin halving event in April, when the amount of new Bitcoin entering circulation dropped, the financier predicted that the token’s price may eventually touch $170,000.
