About Anthony Scaramucci
Anthony Scaramucci, founder and managing partner of SkyBridge Capital, has been a frequent commentator on financial markets, cryptocurrency, and U.S. politics. He has expressed a bullish outlook on Bitcoin, stating that it is in a "self-fulfilling prophecy zone" as a store of value and predicting a rally through its all-time high by the end of 2026. Scaramucci described the current crypto bear market as cyclical and consistent with Bitcoin's four-year halving cycle, and he said he continues to buy Bitcoin monthly regardless of price. He has also discussed the potential for tokenization in capital markets and criticized the Trump administration's "Trumpcoin" meme coin, saying it left a "poor taste" and damaged the political prospects for crypto legislation.
Scaramucci has been sharply critical of President Donald Trump and his administration. He described Trump's disclosure of over 3,700 trades as "disgusting" and "probably legal," and accused the president of insider trading. He predicted that Trump will "end up destroying the careers" of Marco Rubio and J.D. Vance, and characterized Trump as a "Shakespearean elderly, tragic figure." Scaramucci has also commented on the broader political landscape, stating that the Trump era is ending and that the country needs "transformational leaders" to address economic anxiety and political corruption. He expressed support for California Governor Gavin Newsom and predicted Democratic electoral success in the 2026 midterms and the 2028 presidential election.
Source: AI-verified profile updated from Anthony Scaramucci's recent appearances.
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✨ AI-enhanced transcript with speaker attribution
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Host0:00
Decision to approve perpetual futures for crypto, which are futures contracts with no expiration date that allow traders to speculate on price without owning the underlying asset. Well, our next guest is a major supporter of perpetual futures. Anthony Scaramucci is a founder and managing partner at SkyBridge Capital. Anthony, great to see you.
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Anthony Scaramucci0:17
Can we? I mean, we... clap him in. Well, I'm so happy to be here.
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Host0:23
It's great to have you back here on the deck. You used to sit here for the entire show and be a trader.
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Anthony Scaramucci0:28
I even brought my mom to this set. I remember that day with Oliver Stone. Yes.
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Host0:33
Yes. Wall Street too. Good fun. Perpetual futures. Why? Why are you a proponent?
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Anthony Scaramucci0:40
Well, it's like everything in life. You have to accept what's coming, whether you like it or not. Are there elements of perpetual futures I do not like? Yes, of course. Like we go over those. But they're here. The technology is here to have them. We're using them in the cryptocurrency markets for at least a decade. And people are going to use them. And so I feel that we should get them in place and we should regulate them propitiously as opposed to debate whether or not they're going to happen. And so that's the sort of realpolitik realist side of my personality.
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Host1:12
Is it a product that SkyBridge employs?
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Anthony Scaramucci1:15
So we have used perpetual futures in the crypto markets and we have traded 24 over seven. I think we've used the hype system as an indication for something like space, where you could get sort of a look into what the IPO post-trading activity was going to look like, but we haven't used it on the stock and bond side yet with any materiality. Just haven't done it yet.
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Host1:38
Let's go to bitcoin because you've been an enthusiast. You've been right for a long time. And you've seen moves like this in bitcoin before from peak to trough. But what's different in my opinion is the bull's eye on MicroStrategy's back in terms of their holdings and their average price. Where do you sort of start to get concerned when you can see the predatory nature of the market start to kick in?
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Anthony Scaramucci1:59
Well, I mean, listen, I'm concerned. I've been humbled by life and I've been humbled by markets. A lot has happened to me since the last time I showed up on this desk. So I say this with great humility that bitcoin has gone through in my lifetime as an investor with bitcoin, four year cycles. And so what's going on right now is very consistent with the four year cycle and just hitting more or less a few months after the halving cycle. So we'll have another halving guy roughly in April of 2028. But prior to that, about nine months prior to that, you'll start to see the recovery in bitcoin. So I think bitcoin starts a rally late in the fourth quarter of 2026 into early 2027. And this has been a shallow cycle for bitcoin. Bitcoin usually goes down between 60 and 70% from its high. It's down roughly 50. There's a lot of traditionalists who say well there's more to go here on bitcoin. But I think we've been buffered by the institutional buying at the ETF level and the broader retail buying of bitcoin at the ETF level. So, you know, is Michael in trouble? He's definitely not in trouble. He has a fortress balance sheet. You have to really understand the mechanisms of the balance sheet to understand that bitcoin can go a lot lower. And he's virtually not in trouble. He also bought back some of these converts recently, which takes that piece of it off the table. That was something he was probably a little bit worried about. He's got a very deep capital pool that he can access and he's still trading. You know, you can go to the Strategy app and you look at his NAV in terms of what the price of the stock is relative to the value of his bitcoin. He's still trading at a 1.2 to 1.3 NAV, which gives him the necessary arbitrage for people to get comfortable with that trade. So I like it, I like him, I think he's going to be right. And we're at the point in the cycle where the RSI is at an all time low for bitcoin. The apathy is there. No one cares about it anymore. If you look at Google searches, they're way, way down. You and I have been doing this a long time, guys, my 38th year as an investor, when you have RSI where it is, apathy where it is and it's a thin market, remember bitcoin is only the size now of Micron Technology. Just look at the overall market capitalization of bitcoin and a tiny bit of demand for bitcoin moves the price. That happened this week, 61 to 65. It got to 67. It backed off. So...
