Anthony Scaramucci, the founder of SkyBridge Capital and author of the upcoming The Little Book of Bitcoin, is making a prediction that a massive government buy of Bitcoin, up to 500,000 BTC, could actually sail through the U.S. Senate.
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Scaramucci, who knows his way around Capitol Hill, shared insights on the current thing in the Senate regarding this potential Bitcoin acquisition, and pointed out that there’s solid backing for Senator Cynthia Lummis’ bill.
“They’ve got the votes. Hagerty wants it. McCormack wants it.”
When asked if he thinks the Senate will approve this plan to boost government Bitcoin holdings, he confidently replied, “I do think so, yes.”
Originally, Lummis proposed buying up to one million BTC, but Scaramucci thinks the final deal might look a little different, hinting that they might land on buying around 400,000 to 500,000 BTC instead.
And guess who’s pushing for this plan? Yep, Trump himself! Scaramucci noted that Trump has strong support from key figures like Tim Scott, who is set to chair the Senate Banking Committee.
Political support from everyone?
One of the most important points Scaramucci made is about bipartisan support for this initiative.
Despite some vocal opponents like Senator Elizabeth Warren and Senator Sherrod Brown, he highlighted that many Democrats have previously backed pro-Bitcoin legislation.
“If you were under 60 and a Democrat, you likely voted for it.”
Scaramucci believes younger lawmakers are indeed starting to see Bitcoin as digital gold, which makes them more open to incorporating it into federal assets.
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The Bitcoin standard
A big part of Scaramucci’s pitch for a Bitcoin reserve is its comparison to gold. The U.S. has about $600 billion in gold reserves, and he argues that allocating even a fraction of that to Bitcoin could strengthen the economy in the increasingly digital world.
“If Bitcoin is digital gold, why not put $750 million to $1 billion of Bitcoin on reserve?”
He also warned that if countries like China start building their own Bitcoin reserves while the U.S. sits back, the country could lose our competitive edge.
He estimates that purchasing 400,000 or 500,000 BTC would cost about $70–$80 billion, just a small slice of the $6 trillion federal budget.
