Scaramucci Family Pumps Over $100M Into Bitcoin Firm With Trump Ties

TLDR

• The Scaramucci family invested over $100 million in American Bitcoin, a mining company connected to Donald Trump’s sons.
• AJ Scaramucci confirmed that Solari Capital, his investment firm, led the company’s $220 million funding round.
• Other notable investors include Tony Robbins, Charles Hoskinson, Grant Cardone, and Peter Diamandis.
• AJ Scaramucci emphasized that the investment was not influenced by his family’s past political disputes with Donald Trump.
• American Bitcoin holds 4,004 BTC, worth approximately $383.86 million, as part of its strategy to mine and accumulate Bitcoin.

The Scaramucci family has invested more than $100 million into American Bitcoin, a mining company connected to Donald Trump’s sons. The investment came through Solari Capital, the firm founded by AJ Scaramucci. This funding played a key role in the company’s $220 million funding round in July. American Bitcoin went public in September via a reverse merger.

AJ Scaramucci Confirms Investment from Solari Capital

AJ Scaramucci confirmed that Solari Capital contributed over $100 million to the latest funding round for American Bitcoin. However, he did not disclose the exact investment amount. AJ’s father, Anthony Scaramucci, also participated, though with a smaller stake.

Other investors in the round include well-known figures such as Tony Robbins, Cardano’s Charles Hoskinson, and investor Grant Cardone. These backers aim to position American Bitcoin as a key player in the Bitcoin mining space.

AJ Scaramucci emphasized that political ties did not influence his family’s investment. “Bitcoin transcends politics,” he told Fortune. He also pointed out the long-standing personal connection he shares with Matt Prusak, the president of American Bitcoin. They were roommates at Stanford’s business school.

Scaramucci Family’s Ties to Trump Do Not Influence Investment

The Scaramucci family’s ties to Donald Trump have been a subject of public interest due to their past conflicts. Anthony Scaramucci briefly served as Trump’s communications director in 2017 before being fired. The relationship between the Scaramuccis and Trump has remained strained since, with Anthony becoming a vocal critic.

Despite this, AJ Scaramucci stressed that politics did not affect their decision to back American Bitcoin. The company’s appeal lies in its strategy to mine and hold Bitcoin, as well as to purchase more on the open market. American Bitcoin holds 4,004 BTC, valued at around $383.86 million, according to BitcoinTreasuries.NET.

AJ Scaramucci’s push for Solari to lead the investment round stems from his belief that American Bitcoin can compete with publicly traded Bitcoin firms. He sees the company’s model as a strong contender in the growing market for Bitcoin accumulation firms.

Trump’s Sons Involvement with American Bitcoin

American Bitcoin is linked to Donald Trump’s sons, Eric and Donald Trump Jr., who have been active in promoting the company. Eric Trump recently commented on the ongoing volatility in the cryptocurrency market, dismissing concerns over Bitcoin’s price fluctuations. He suggested that such volatility is part of the trade-off for high returns in the crypto space.

The company’s decision to go public has been seen as a way to expand its reach. The involvement of the Trump family, alongside other high-profile investors, is expected to boost American Bitcoin’s market presence. As Bitcoin’s value continues to fluctuate, investors are keeping a close eye on how these developments unfold.

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