The Scaramucci family has made a significant financial move by investing over $100 million into American Bitcoin, a mining firm associated with the sons of former President Donald Trump. The investment was facilitated through Solari Capital, the firm founded by AJ Scaramucci, who spearheaded a $220 million funding round for the company in July. This round occurred just months before American Bitcoin went public via a reverse merger in September, as reported by Fortune.
AJ Scaramucci disclosed to Fortune that Solari Capital”s contribution exceeded $100 million, though he did not specify the exact amount. Moreover, his father, Anthony Scaramucci, also took part in the investment, albeit with a smaller contribution. Other notable investors included motivational speaker Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis.
This investment comes despite a long-standing rivalry between Anthony Scaramucci and Donald Trump. Anthony briefly served as Trump”s White House communications director in 2017 before being dismissed shortly thereafter. Since then, he has been critical of Trump, endorsing Joe Biden and Kamala Harris in both the 2020 and 2024 elections. However, AJ stated that politics did not influence their investment decision. “Has my Dad and Don Sr. have they had their fair share of back and forth? Of course they have,” he told Fortune. “But Bitcoin transcends politics.” Anthony has also referred to Bitcoin as the “orange team” that rises above political divisions.
AJ Scaramucci”s connection to the investment is rooted in personal ties; he was roommates with Matt Prusak, the current president of American Bitcoin, during their time at Stanford”s business school. When Prusak informed him of the miner”s separation from Hut 8, AJ advocated for Solari to lead the funding round. He expressed confidence that American Bitcoin could effectively compete with publicly traded firms that position their stocks as proxies for Bitcoin (BTC) holdings.
Currently, American Bitcoin holds a substantial amount of Bitcoin, owning 4,004 BTC, valued at approximately $383.86 million, according to BitcoinTreasuries.NET. The firm not only mines Bitcoin but also actively purchases additional BTC from the open market. In a recent discussion with The Wall Street Journal, Eric Trump remarked that the current downturn in the cryptocurrency market should not be a cause for alarm, characterizing volatility as an acceptable trade-off for potential high returns. His comments came as Bitcoin faced a brief drop below $95,000, marking a 25% decrease from its peak earlier in October.
