Anthony Scaramucci, founder of SkyBridge Capital and author of the new book 'All the Wrong Moves,' appeared on CNBC's Squawk Box to discuss his book and offer his perspective on the recent surge in Bitcoin's value. He suggests that the rally, which saw Bitcoin reach approximately $86,000, was not driven by the Clarity Act, but rather by Secretary Bessent's decision to support the longer end of the Treasury curve (10- and 30-year yields). Scaramucci views this intervention as a signal about underlying fiscal and monetary conditions, making fixed-supply assets like Bitcoin more attractive to investors. He asserts that the Clarity Act is more relevant to tokenization and layer-one tokens, not Bitcoin, which he considers a 'standalone digital store.'
Scaramucci highlighted the liquidity argument, stating that the Treasury's intervention indicates underlying conditions that make fixed-supply assets more appealing. He noted that the 10-year Treasury yield was at 4.96% on September 21, 2026, and the 30-year yield at 5.29%, showing pressure on the long end of the curve throughout September. Despite its recent 14.37% weekly gain and 11.21% monthly gain, Bitcoin remains down 23.32% over the past year, indicating that the current rally is a rebound within a broader losing period.
He also made an adoption argument for Bitcoin, comparing its eventual acceptance to that of Uber, suggesting that superior technology ultimately prevails despite initial resistance. As a personal anecdote, Scaramucci mentioned selling Bitcoin on September 15 to pay taxes, with the proceeds hitting his JPMorgan account within ten minutes, demonstrating the efficiency of the asset. He also hinted at a short squeeze contributing to the recent price movement, though this claim remains unverified. Scaramucci's book, 'All the Wrong Moves,' is described as a blend of financial history and political memoir, reflecting on his own missteps and broader societal issues.
