- Trump's former press chief and Bitcoin backer outlines how the election will impact crypto.
- Scaramucci says he prefers Harris, even as Trump will be better for crypto in the short term.
Anthony Scaramucci, who was famously former President Donald Trump’s press chief for only 11 days, says he’d be happy to advise him on crypto policy should he win the election today.
That is, if he’s asked.
He’d help a potential President Kamala Harris on crypto as well, he told investment platform Saxo in an interview this week.
Below are snippets from the interview.
Bitcoin’s price
Bitcoin’s going higher irrespective of whoever is the president. Bitcoin in the short run would probably go a little bit higher with Trump because he’s perceived to be the deregulator of all the things that the Biden administration has done, he would get rid of.
Harris has indicated that she’s pro blockchain and pro Bitcoin. So for those reasons, I think I’m indifferent as it relates to Bitcoin specifically.
I’d help Trump
If Donald Trump or somebody asked me to help on crypto, I’m helping on crypto. I’m a patriot. I love my country. I don’t want him to win. I don’t want him to be the president.
If he does become the president, I would want to help in any way that I can because I know that would reduce and mitigate potential danger. That’s all. If she wins, I would say the same thing.
I don’t want to go back into government. I’ve had my 11-day fill of government. I don’t need to go back into the government.
But would I provide policy advice or would I be helpful? Sure, I’m already very helpful.
No digital dollars
I don’t want there to be a digital dollar. I think some combination of Tether, other types of private companies that have stablecoins. I would rather have stable coin legislation.
So to really understand America and the libertarian angle of America even for Democrats, they sort of don’t want that invasion of privacy that a digital dollar entails.
So I don’t want it. Could she usher it in? It’s possible.
Message to Voters
I’m for Harris. While I may not agree with every single policy, she’s a constitutionalist and she’s for our system. He’s talking about shaking the system and going after his enemies.
Imagine a politician who wants to go after his enemies in a democracy that has free speech, versus if you were railing against her and she won, you would have zero worries about her coming against you.
So, I would appeal to their individual liberty and say if Donald Trump is coming after Liz Cheney, which you may think is distant from you, but that’s a domino toppling that’s heading towards you because that’s how really bad things start.
If you don’t like her or her tax policy, hold your nose and vote for her, because she represents a system that has made the country the most prosperous economy in the history of the world.
Crypto gains vs risk
A Trump administration would be more positively disposed to crypto than our current administration. The Harris team hasn’t said much about it, other than they want the US to lead in blockchain.
Mark Cuban and I are working with them on this, but I think Trump has spoken more clearly about it.
He spoke at the Bitcoin Conference and has a group of people who could potentially enter the SEC and are very positively inclined towards cryptocurrency.
So for all those reasons, I think he would be better for crypto.
However, he’s a very polarising person and if he’s damaging our alliances or creating lots of havoc in the world, I’m not sure how that’s going to help anybody in crypto.
It’s important to understand that you want Trump’s involvement to be bipartisan, as it could be too polarising.
You’ve got to be very careful of the Democrats if Trump’s pro-crypto. There could be lots of Democrats that are against it just because Trump is for it so I would like to see this calm down.
We have to depoliticise our regulatory decisions and make them more about right or wrong as opposed to left or right.
His $170,000 Bitcoin target
Bitcoin and crypto is a Trump trade so he has become demonstrable for it, he’s an advocate for it. If he wins, Bitcoin could easily trade to $100,000 and could probably blow past that.
The $170,000 target is based on taking the price of the April halving of around $50,000 and multiplying it by four.
Anytime Bitcoin has halved, you’ve gotten 4x so that’s $200,000 — I took 15% off that because maybe I’m being too aggressive so I’m saying $170,000.
That price target is born from 15 years of historic data on Bitcoin.
A Harris administration will have a more typical regulatory approach to crypto and Bitcoin.
It’ll be marginally better with Trump, because just on crypto, he is meaningfully and demonstrably better.
With him, you do get the NATO risk and other negative forces that outweigh the positives.
