Bitcoin
Anthony Scaramucci’s Crypto Stance: ‘Remember He Was Negative About Bitcoin…’
- Biden’s crypto policies, such as his veto on the repeal of SAB 121, have generated controversy in the crypto community.
- Scaramucci supported Biden, citing the rise of Bitcoin and warning against Trump’s crypto election stance.
Recent crypto policies implemented by President Joe Biden have drawn significant criticism from the crypto community.
One of the most controversial decisions that aroused widespread criticism was President Biden’s veto the revocation of Personnel Accounting Bulletin 121, also known as SAB 121.
For context, SAB 121, the SEC’s controversial accounting guidelines, has been criticized for discouraging large-scale cryptocurrency custody services by investment banks.
Scaramucci supports Biden
However, not everyone shares this vision. Anthony Scaramuccifounder of SkyBridge, believed that Biden was the best choice for the upcoming elections, even for crypto voters.
In a recent conversation on the “Unchained” podcast, when asked about his vote in the upcoming elections, Scaramucci expressed his support for Biden and said:
“I believe this is the right choice for America in the long term and it has to do with what I know about Donald Trump.”
Adding a word of caution about Trump, he noted,
“Remember he was very negative about bitcoin and digital assets while president. Now he has done a 180-degree turn because he wants your vote.”
Scaramucci also highlighted Bitcoin [BTC]in growth during the Biden administration, emphasizing that,
“Bitcoin went from US$17,000 to US$70,000 under the Biden administration.”
If we consider Scaramucci’s point of view, BTC experienced substantial traction in 2024, particularly marked by milestones such as the introduction of a spot Bitcoin ETF and Bitcoin reaching a new all-time high (ATH) of $73,000.
Is Anthony Scaramucci right?
This was further confirmed by one of Polymarket’s prediction market data on the “Popular Vote Winner in the 2024 Presidential Election” where Biden is the favorite with a 56% chance compared to Trump’s 36%.
Whereas Polymarket It is mainly used by cryptocurrency users, it shows where their loyalty lies for the next election.
Source: Polimercado
However, at the same time, in another Polymarket prediction market for the ‘2024 Presidential Election Winner’, Trump leads with 60% probability, eclipsing Biden’s 34%.
Source: Polimercado
What comes next?
So, as we await the election results, it will be intriguing to see the eventual winner.
Meanwhile, Scaramucci stands firm, reiterating that despite previous criticism, Trump is being opportunistic with his stance on cryptocurrencies just to improve his electoral prospects.
And so, Scaramucci summed it up well when he said:
“I would prefer the gradualism and thaw that is happening under the Biden administration, which is more consistent and stable, than this kind of impulsiveness.”