The Crypto SHOCK Is Coming, Trump's Plan.. - Anthony Scaramucci

Good morning Andrew. I love the strategy. I want to applaud David Sacks for the job that he's done in terms of organizing the administration, going to the Congress and talking to the Congress about the ideas around Bitcoin and stablecoin legislation. And I think if you read through the executive order, there's a lot of meat in there for bitcoiners. The problem with bitcoiners, unfortunately, they've been beaten down over the last four or five years and so the expectations were very high that the Trump Administration would just come in, turn on a switch and they would have this house on fire. I think what David Sacks has done frankly is brilliant because he's trying to create a bipartisan commitment and a bipartisan understanding to digital assets and the space of digital assets in the United States. So the trading is sloppy right now, but I think if you look forward over the next three to six months you'll see a lot more institutional buying. The fact the United States is going to hold this asset means that other countries, Andrew, are going to end up buying this asset as well.

Oh, I'm okay with that. There's been forfeitures of US dollars, there's obviously frozen Russian assets. And so if you just equate Bitcoin to currency or dollars, and I think you can get over that assertion that it's quote unquote stolen, it's just a forfeited asset. But I think what David is basically saying, or what the communication from the Trump Administration is saying, is that they're not going to spend taxpayer dollars on this, but they will find revenue-neutral ways to acquire Bitcoin. That could be selling other assets frankly that had been under forfeiture to the United States and transitioning them into Bitcoin. So again, it's a step in the right direction and I think it's very, very important. If you think about the assets that are in our strategic reserve, they're nonpartisan. I don't think there's a debate in the Congress about holding gold or holding oil or some of the rare earth minerals or even some of the medical supplies frankly that the US holds in its strategic reserve. And I think we want to get Bitcoin to that position, Andrew, and it will take some time. And I applaud these guys for having patience. I think if they went very, very quickly and sort of rammed this into place, there would have been a reaction formation on the side of the Democrats.