The Scaramucci household has invested over $100 million into American Bitcoin, the mining company tied to US President Donald Trump’s sons.
The funding came thru Solari Capital, the investment agency based by AJ Scaramucci, which led the corporate’s $220 million round in July, months before American Bitcoin went public thru a reverse merger in September, in accordance to a sage from Fortune. The miner didn’t previously show its backers.
AJ Scaramucci knowledgeable Fortune that Solari Capital contributed “over $100 million,” though he didn’t show veil the accurate amount. His father, Anthony Scaramucci, moreover participated with a smaller investment.
Various contributors incorporated Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone and entrepreneur Peter Diamandis, per the sage.
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Bitcoin is past politics
The involvement came amid a prolonged-running feud between Anthony Scaramucci and Donald Trump. Scaramucci like a flash served as Trump’s White Home communications director in 2017 before being fired days later, later emerging as a vocal critic who counseled Joe Biden and Kamala Harris within the 2020 and 2024 elections.
On the replace hand, AJ stated politics played no role within the deal. “Has my Dad and Don Sr. beget they had their gorgeous fragment of backward and forward? Indubitably they’ve,” he knowledgeable Fortune. “But Bitcoin transcends politics.” Anthony moreover reportedly called Bitcoin the “orange team” that sits above partisan divides.
Essentially based entirely on the sage, AJ sourced the investment thru a prolonged-standing non-public connection. He used to be roommates with Matt Prusak, now the president of American Bitcoin, while attending Stanford’s alternate college.
When Prusak knowledgeable him the miner may perchance well well be spun out from Hut 8, AJ pushed for Solari to steer the round. He stated he believes the corporate can compete with publicly traded Bitcoin accumulation companies, collectively with these positioning their stock as a proxy for proudly owning BTC.
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American Bitcoin holds 4,000 BTC
American Bitcoin mines and holds Bitcoin, and moreover purchases extra BTC on the begin market. Essentially based entirely on BitcoinTreasuries.NET, the agency holds 4,004 BTC, rate round $383.86 million, on its balance sheet.
In a recent interview with The Wall Street Journal, Eric Trump stated the present crypto downturn just isn’t any trigger for scenario, calling volatility an most necessary alternate-off for excessive returns. His feedback advance as Bitcoin like a flash slipped below $95,000, about 25% decrease than its early-October prime.
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