Anthony Scaramucci, founder of SkyBridge Capital, believes the US Senate is gearing up to approve a 500,000-Bitcoin ($BTC ) purchase, marking a potential turning point for cryptocurrency adoption in government reserves. Speaking on the Bankless podcast, Scaramucci emphasized bipartisan momentum behind the move, driven by strategic concerns over Bitcoin’s role in the global economy.
Key Highlights
Strategic Bitcoin Reserve: Senator Cynthia Lummis’ proposal to accumulate up to 1 million BTC gains traction. Scaramucci predicts a compromise purchase of 400,000 to 500,000 BTC over time.
Bipartisan Support: Younger politicians and Democrats like Ro Khanna see Bitcoin as “digital gold,” making them receptive to the idea.
National Interest: Scaramucci compares Bitcoin to gold reserves, suggesting $70–80 billion could be allocated to $BTC —a small fraction of the $6 trillion US budget.
Why This Matters
Global Competition: Scaramucci warns of losing a strategic edge if countries like China aggressively accumulate Bitcoin.
Digital Era Economics: He advocates for Bitcoin to modernize the US economy, saying it would align with younger generations’ digital priorities.
US Dollar Strength: Critics worry about the dollar’s stability, but Scaramucci argues Bitcoin reserves could boost the dollar’s technological competitiveness.
Trump’s Push for Bitcoin
Scaramucci claims Trump has the backing of key Senate figures like Tim Scott and the Senate Banking Committee to advance the initiative. Trump’s potential alignment with Bitcoin could reshape its role in the US economy and policy.
The Bigger Picture
A strategic Bitcoin reserve could position the US as a leader in the cryptocurrency space while securing a hedge against future digital gold adoption by competing economies. However, skeptics warn of risks to the US dollar's global dominance.
Will This Move Materialize?
With bipartisan support growing and younger politicians embracing crypto, the prospect of a 500,000-$BTC US reserve appears more feasible than ever. The coming months could define the role of Bitcoin in US policy and global finance.
#Bitcoin #BTC #USCryptoPolicy #StrategicReserve #DigitalGold

On December 6, Donald Trump, the President-elect of the United States, announced the appointment of David Sacks, one of PayPal’s co-founders, to lead cryptocurrency policy and oversee artificial intelligence development in the White House. In this new role, Sacks will work on creating regulatory frameworks for the digital assets industry and will chair the President’s Council on Science and Technology.
David Sacks, born in South Africa, earned an economics degree from Stanford University and a law degree from the University of Chicago. His career began at PayPal, where he served as Chief Operating Officer and became a member of the famous “PayPal Mafia”—a group of successful entrepreneurs who emerged from the company. Later, Sacks founded the corporate social network Yammer and launched the venture capital fund Craft Ventures, which actively invests in cryptocurrency startups.

Currently, Craft Ventures’ portfolio includes 12 projects, each offering unique solutions for the cryptocurrency market:
1. dYdX – A decentralized trading platform for perpetual contracts, margin trading, and spot trading. Craft Ventures’ investments contributed to the project’s token value surging by over 24% in a single day.

2. Lightning Labs – A software developer for the Lightning Network, enabling instant and scalable Bitcoin transactions. The company also offers financial solutions without intermediaries.
3. River Financial – A service providing brokerage and mining management exclusively focused on Bitcoin.
4. Kresus – A Web3 mobile app for managing and securely storing digital assets.
5. Set Protocol – A platform for creating and managing tokenized asset baskets. Key products include the DeFi Pulse Index ($DPI) and the ETH 2x Flexible Leverage Index.
6. Fold – A Visa debit card with a rewards system that offers Bitcoin cashback for everyday purchases.
7. Harbor – A project specializing in tokenizing digital securities and alternative investments. In 2020, it was acquired by BitGo.
8. Handshake – A decentralized domain name system (DNS) that provides an independent naming protocol. Major investors include Andreessen Horowitz and Pantera Capital.
9. Voltage – An infrastructure service for businesses leveraging the Lightning Network with a focus on Bitcoin.
10. Galoy – A Bitcoin-based banking solution offering APIs, mobile wallets, and management tools.
11. Lumina – A platform for managing cryptocurrency portfolios, accounting, and tax calculations.
12. Rare Bits – A marketplace for buying and selling cryptocurrency-based collectibles. Despite its ambitious plans, the project is currently inactive.
Sacks’ appointment could significantly influence the development of cryptocurrency policy in the United States.

#DavidSacks #CraftVentures #dYdX #USCryptoPolicy #Web3