SKN | Scaramucci Buys Bitcoin Dip at Consensus Hong Kong, Calls Trump a “Crypto President”

Key Points

• Anthony Scaramucci said SkyBridge Capital is buying bitcoin across multiple price levels during the current downturn.

• He described Donald Trump as a “crypto president” but warned partisan tensions could slow crypto legislation.

• Scaramucci also highlighted Solana as a potential major market share gainer among Layer 1 blockchains.

Anthony Scaramucci is doubling down on bitcoin despite one of the sharpest pullbacks of the cycle, telling attendees at Consensus Hong Kong that SkyBridge Capital continues to accumulate the cryptocurrency across multiple price levels. The hedge fund founder also described Donald Trump as a “crypto president,” arguing that U.S. political dynamics will play a decisive role in shaping the next phase of digital asset adoption.

Speaking on stage alongside Tom Farley, CEO of Bullish, at the Consensus Hong Kong conference, Anthony Scaramucci said SkyBridge has been buying bitcoin at $84,000, $63,000, and in the current lower range following the latest market slide.

“So 10 days ago, we were buying bitcoin at 84,000. Last week, we were buying bitcoin at 63,000. This week, we’re buyers again,” Scaramucci said, acknowledging that purchasing into a falling market can feel like “catching a falling knife.”

Buying Into Volatility

Bitcoin recently fell to nearly $60,000 after peaking above $126,000 in October, representing a drawdown of more than 50%. Prices have since rebounded toward the high-$60,000 range amid signs of capitulation in bitcoin ETF flows and derivatives markets.

Scaramucci’s strategy reflects a long-term conviction approach rather than tactical market timing. By spreading purchases across different price points, SkyBridge is effectively dollar-cost averaging into volatility — a method often favored by investors who believe structural adoption trends outweigh short-term macro headwinds.

The broader backdrop remains fragile. ETF outflows, thinning liquidity, and global risk-off sentiment have weighed on crypto markets in recent weeks. Yet Scaramucci framed the downturn as an opportunity rather than a warning sign.

Politics and Crypto Policy

Beyond market positioning, Scaramucci addressed the political environment in the United States, calling Donald Trump a significantly more favorable leader for the crypto industry than his predecessor.

He argued that Trump’s pro-crypto stance could accelerate regulatory clarity and institutional adoption. However, Scaramucci also warned that geopolitical moves — citing Trump’s controversial rhetoric around Greenland — could harden opposition among Democrats and complicate bipartisan efforts to pass crypto-related legislation.

“If he does stuff like that, it upsets the opposition to the point where they don’t want him to win on anything,” Scaramucci said, suggesting that partisan tensions could indirectly stall digital asset bills even if they benefit the broader market.

The comments highlight how crypto policy in the U.S. remains deeply intertwined with broader political narratives, making regulatory progress dependent not only on industry momentum but also on electoral dynamics.

Layer 1 Competition and Market Share

Scaramucci also weighed in on blockchain competition, pointing to Solana as a potential market share winner among Layer 1 networks. He described the programmable blockchain as well positioned to capture developer and user growth, reflecting a broader trend of investors differentiating between base-layer platforms as capital rotates within the sector.

While bitcoin remains SkyBridge’s core conviction trade, Scaramucci’s remarks suggest the firm is also monitoring structural shifts across the broader crypto ecosystem.

A Test of Conviction

The appearance at Consensus Hong Kong comes at a pivotal moment for digital assets. With bitcoin trading well below its highs and sentiment still fragile, public commitments to buying carry both reputational and financial weight.

For Scaramucci, the thesis remains intact: volatility is a feature, not a flaw. Whether this latest accumulation phase proves prescient will depend on how quickly confidence returns — and whether macro and political forces align to support the next leg higher.