Anthony Scaramucci Says Trump's Meme Coins 'Karate Chopped' Crypto's Image But Vouches For Bitcoin’s $10T Market Cap

• Scaramucci said Bitcoin is "easily" a $10 trillion asset, adding that it is still one of the greatest brands in global banking.
• He criticized Trump’s meme coin activity, stating it hurt crypto’s credibility at a time when the industry was gaining wider public acceptance.
• Scaramucci remained bullish on Bitcoin despite weak market sentiment and also has positions in Solana, Ethereum, Telegram, and Circle.

SkyBridge Capital founder Anthony Scaramucci said late Sunday that Bitcoin (BTC) could “easily” reach a $10 trillion market cap, but cautioned that President Trump’s handling of meme coins damaged crypto’s image at an important time for the industry.

"We were getting a love affair growing with people, and then Trump came in, and he karate chopped out with the meme coin," Scaramucci said on the Wolf of All Streets podcast, talking about the Official Trump Coin (TRUMP). He still described the market as being in a state of apathy, and said he was still bullish on Bitcoin's long-term trajectory.

TRUMP’s price was down over 1% during the past 24 hours. On Stocktwits, the retail sentiment around TRUMP remained in the ‘bullish’ zone, while chatter around it shifted to ‘low’ from ‘normal’ levels over the past day.

Bitcoin's $10 Trillion Bull Case

Scaramucci said Bitcoin could "easily" reach a $10 trillion market cap, up from its current $1.2 trillion, calling it "one of the best brands ever." 

He added that even at that level, it "still wouldn't dent the capital market." He noted Bitcoin was up roughly “10% from its interim low,” but that sentiment remained depressed, with bull-bear readings at 7 out of 100 and RSI "through the floor."

Scaramucci said he was long on Bitcoin, Solana (SOL), Ethereum (ETH), and Telegram, and held an early-stage position in Circle (CRCL).

Bitcoin’s price was trading around $64,000, almost flat over the past 24 hours. On Stocktwits, the retail sentiment around BTC moved to ‘bearish’ from ‘neutral’ while chatter around it remained in the ‘low’ levels over the past day.

CLARITY Act Odds

According to Scaramucci, there was only a one-in-five to two-in-five chance of passage for the Digital Market Asset Clarity Act, also known as the CLARITY Act. The political dynamics in Washington were making passage difficult, regardless of the bill’s merits, and adversaries had an incentive to block anything they saw as a win for the other side, he said.

The latest text of the bill was released last week by Senator Cynthia Lummis (R-WY), adding ethics provisions and prohibiting public officials and their spouses from issuing or sponsoring digital assets while in office. The bill also closed the loophole that has allowed crypto exchanges, decentralized finance (DeFi) platforms, and crypto ATMs to claim decentralization to avoid anti-money laundering rules.

Read also: Zcash's Ironwood Upgrade Activates Tomorrow After 60-Day 'Wartime Mode' Sprint, But ZEC Doesn’t Move

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