Solari Capital, an investment firm led by AJ Scaramucci, has been revealed as the lead investor in a $220 million funding round for American Bitcoin, the mining firm linked to President Donald Trump’s sons. The firm, whose founder’s family has a famously public feud with the president, invested “over $100 million” in the deal, underscoring a belief that investment in the Bitcoin ecosystem operates separately from partisan divides.
The Investment and Stanford Connection
The investment was part of a crucial $220 million round in July, which preceded American Bitcoin’s public debut via a reverse merger in September. According to a Fortune report, Solari’s $100 million+ contribution, which had not been previously disclosed, was sourced through a long-standing personal connection. AJ Scaramucci was roommates with Matt Prusak, now the president of American Bitcoin, while attending Stanford’s business school.
AJ Scaramucci’s father, Anthony Scaramucci, also participated in the round with a smaller investment. The funding attracted other high-profile backers, including Cardano founder Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis.
Bridging the Political Divide
The deal is particularly notable given the well-documented political friction between the two families. Anthony Scaramucci served a brief, tumultuous 11-day stint as President Trump’s White House communications director in 2017 before being fired. He has since become a vocal critic, endorsing Trump’s political rivals in both the 2020 and 2024 elections.
However, AJ Scaramucci insisted that politics played no role in the investment decision. “Has my Dad and Don Sr. have they had their fair share of back and forth? Of course they have,” he told Fortune. “But Bitcoin transcends politics.” His father reportedly echoed this sentiment, referring to Bitcoin as the “orange team” that sits above partisan loyalties.
American Bitcoin’s Treasury Strategy
American Bitcoin operates with a dual strategy of mining new BTC and actively purchasing additional coins on the open market, positioning itself as a public accumulation vehicle similar to other treasury-focused firms. According to data from BitcoinTreasuries.NET, the firm currently holds 4,004 BTC, valued at approximately $383.86 million, on its balance sheet.
This “hodl” strategy remains firm despite recent market volatility. The investment revelation comes as Bitcoin has pulled back roughly 25% from its early-October peak, a downturn Eric Trump recently described as a necessary trade-off for high returns.
The Scaramucci family’s significant investment provides American Bitcoin with a substantial, if ideologically diverse, war chest as it competes in the capital-intensive mining sector. This deal serves as a high-stakes case study in whether the “digital gold” thesis is truly supplanting political allegiance as a primary driver for institutional capital, even as the mining firm’s performance remains inextricably linked to the volatile crypto market.
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