In brief

  • Financier Anthony Scaramucci appeared on Coinscrum Markets to speak about cryptocurrency.
  • The former White House Comms Director sees digital assets as the future of currency and discussed his investment firm’s approach.
  • He hinted that his investment firm, SkyBridge Capital, could create a digital assets fund.

SkyBridge Capital founder Anthony “The Mooch” Scaramucci is arguably best known for the scant 10 days he spent as President Trump’s White House Communications Director in 2017 before his dismissal. He has become a vocal Trump critic in the time since.

While Scaramucci is outspoken in his political views, he’s also not afraid to share his opinions on financial and business matters. And when it comes to cryptocurrency and blockchain technology, he sees big things on the horizon.

“Since I returned to SkyBridge in 2018, we’ve done a deep dive into the digital assets space. I am a fan,” he said on a recent episode of Coinscrum Markets. “I believe that digital assets have a future and obviously that blockchain has a future.”

Scaramucci points to millennials as the current driving force in the adoption of cryptocurrency, saying they’re “enraptured by digital assets.” However, he thinks it will be the members of Generation Z below them that “push digital assets up, in my opinion, into the stratosphere.”

“I have five children, three of which are millennials, and they are ready to transact and buy their Tesla in Bitcoin,” he explained. “They’re not fearful of it the way the older guard is."

Scaramucci noticed a generational divide elsewhere, too, suggesting that future historians will look back on baby boomers as a “selfish, narcissistic group of people” that drove up the deficit, weakened the public education system, and diminished confidence in fiat currency as a result. That’s part of the reason why Scaramucci believes that cryptocurrency is indeed the next financial wave.

“The Mooch” is not yet riding that wave himself, however. Instead, he is taking it slow when it comes to investing in digital assets due to his existing tie-ups with traditional financial firms. However, he says there is a “distinct possibility” that SkyBridge could have a digital assets fund in the future, or at least be affiliated with one.

“The blockchain is going to provide this amazing future,” he said. “It will be a digital asset future, frankly.”