Scaramucci invests $100 million in Trump sons’ American Bitcoin
Despite his conflict with Donald Trump, former White House Communications Director Anthony Scaramucci has invested $100 million into American Bitcoin, a mining and treasury company founded by Trump’s sons.
According to a Fortune report, Scaramucci’s investment firm Solari Capital led a $220 million funding round for American Bitcoin in July this year, shortly before the company went public in September.
Other participants in the round included life coach Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and serial entrepreneur Peter Diamandis. Anthony Scaramucci and his son AJ Scaramucci invested more than $100 million of family capital into American Bitcoin.
The Scaramucci family’s support goes beyond political disagreements, as Bitcoin has become a shared point of alignment for former rivals.In 2017, the SkyBridge Capital founder’s 11-day tenure as White House Communications Director ended in a scandalous dismissal following conflicts with Trump’s core team.
Bitcoin reconciled the rivals
Since then, the financier has become a vocal critic of Trump, supporting Joe Biden in 2020 and Kamala Harris in 2024. However, Trump’s embrace of cryptocurrencies in 2024 brought an unexpected shift.
“There may be blue and red teams, but there is also an orange team, and that’s Bitcoin,” Scaramucci told Fortune, referring to the cryptocurrency’s signature color.
AJ Scaramucci struck the deal with American Bitcoin thanks to his close friendship with Matt Prusak, the company’s president and his former Stanford Business School roommate. The younger Scaramucci saw potential in the company’s dual approach — combining Bitcoin mining with acquiring additional BTC on the open market — believing it could compete in the crowded public Bitcoin-treasury sector.
“The Scaramuccis truly believe in American Bitcoin’s success, and they were willing to set personal issues aside,” says American Bitcoin’s chairman Escher Jenout.
American Bitcoin rapidly expanded its Bitcoin treasury to 4,004 BTC worth about $415 million, adding 139 BTC between October 24 and November 5 alone. This made it the 25th-largest corporate holder of Bitcoin, according to bitcointreasuries.net.
However, the company now faces a turning point. Bitcoin’s price is falling, and the mining industry is grappling with profitability issues after the halving, pushing many miners to pivot toward AI infrastructure.
Cipher Mining has already taken that path, signing a $5.5 billion agreement with Amazon Web Services in October, while in November IREN inked a $9.7 billion deal with Microsoft.
American Bitcoin continues to adhere to its Bitcoin-centric strategy, but it still has avenues for diversification — or at least for balancing its commitment to Bitcoin with the fast-growing opportunities in the AI infrastructure market.
As we wrote, Trump-backed American Bitcoin becomes top 30 global BTC holder
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