The Scaramucci family has made a significant investment in American Bitcoin, a mining company associated with US President Donald Trump’s sons. This financial backing, valued at over $100 million, came through Solari Capital, the investment firm founded by AJ Scaramucci. AJ’s firm led the company’s $220 million funding round in July, which took place months before American Bitcoin’s reverse merger that made it public in September. The miner had previously kept its backers under wraps.
AJ Scaramucci confirmed the investment, though the exact amount was not disclosed. His father, Anthony Scaramucci, also participated with a smaller contribution. The funding round saw participation from several other notable figures, including motivational speaker Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis. According to BitcoinTreasuries.NET, American Bitcoin currently holds 4,004 BTC, valued at approximately $383.86 million.
Family Ties and Business Focus
AJ Scaramucci’s connection to American Bitcoin is rooted in a long-standing personal relationship. While attending Stanford’s business school, AJ was roommates with Matt Prusak, now the president of American Bitcoin. When Prusak shared news that the company would be spun out from Hut 8, AJ pushed for Solari Capital to lead the investment round. AJ’s firm sees the potential for American Bitcoin to compete with publicly traded Bitcoin accumulation firms, which are positioning themselves as proxies for owning the cryptocurrency.
Despite a history of public disagreements between Anthony Scaramucci and Donald Trump, AJ emphasized that the investment was purely business-driven. AJ dismissed politics as a factor in the deal, highlighting that Bitcoin transcends partisan divides. He pointed out that his father and Donald Trump had their differences in the past but that Bitcoin remains neutral. Anthony Scaramucci himself has often referred to Bitcoin as belonging to the “orange team,” which he believes operates beyond political affiliations.
American Bitcoin’s Market Position
American Bitcoin’s investment strategy focuses not only on mining Bitcoin but also on purchasing additional BTC from the open market. This strategic approach positions the company as the 25th largest public Bitcoin holder, further solidifying its presence in the rapidly growing cryptocurrency market. Eric Trump, in a recent interview with The Wall Street Journal, shared that he remains untroubled by the volatility of the cryptocurrency market, calling it a necessary aspect of high returns.
As American Bitcoin continues to grow, the company’s focus on accumulating and holding Bitcoin positions it as a significant player in the sector. With backing from both the Scaramucci family and a group of high-profile investors, the firm is poised to expand its footprint in the competitive world of cryptocurrency mining and investment.