Why Bitcoin Could Reach a $12 Trillion Market Cap, According to Anthony Scaramucci

Anthony Scaramucci has been around Bitcoin long enough to know that Washington can make things very difficult without necessarily breaking the investment case for it.

That may be especially true now.

The SkyBridge Capital founder remains convinced Bitcoin has considerably more room to run, even as he grows increasingly skeptical that Congress will deliver the regulatory clarity the crypto industry has spent years waiting for.

And in Scaramucci's view, President Donald Trump deserves much of the blame.

"The president has been good for crypto," Scaramucci told Coinage at the SALT Wyoming Blockchain Symposium. "I try to be very objective, but he's also been bad for crypto."

The former Press Secretary in Trump's first administration has not been a quiet critic of President Trump. But as an investor in various crypto projects, Scaramucci is increasingly worried that the much hoped for CLARITY Act looks politically dead. The optics of President Trump's various crypto businesses raking in more than a billion dollars since he was stepping into office a second time is weighing on winning key Democratic support.

"So they put this massive ethics provision into the deal, which has slowed down the deal and possibly even extinguished it," Scaramucci said. "You're telling me they're going to put this together in seven weeks and pass it and be right up against that close to the midterms? I'm not buying that."