CEO of Skybridge Capital, Anthony Scaramucci, stated that the introduction of Trump coins in January 2025 had a negative impact on the cryptocurrency revolution. The former White House Communications Director stated that the entry of these celebrity tokens forced altcoins into a bear market and triggered an early Bitcoin collapse in October 2025. However, he believes Bitcoin could reach as high as $150k by the end of this year.
Trump Coins Sucked Liquidity and Caused a Premature Bear Market
The Mooch, as Scaramucci is popularly referred to, said in a recent interview:
“The industry got impaired by the Trump coins, and I know people don’t like talking about it because they’re nervous about the administration. But, the truth be told, the Trump coins sucked a lot of liquidity out of the (altcoin) space because, in my mind, the bear market really started back in January, and it didn’t really impact Bitcoin till October…”
The “Trump” coins Scaramucci is mentioning here include the Official Trump ($TRUMP) and Melania ($MELANIA) cryptocurrencies launched by the US President and the First Lady. The $TRUMP coin, in particular, had a field run triggered after the President took the oath. The total market capitalization reached as high as $29 billion within two weeks.
Scarmucci is therefore right to claim that the Trump coin sucked billions of dollars of equity from the altcoin market a year ago and possibly triggered a premature altcoin bear market. 2025 was the only calendar year following a Bitcoin halving that didn’t witness an altcoin boom since 2017.
Bitcoin Can Still Reach $150k
While Scaramucci did criticize the launch of the personality coins, he still praised the administration’s pro-crypto structural reforms and called Trump the “Crypto President”. Citing the appointment of David Sacks (Crypto Czar), Paul Atkins (SEC Chair), Scott Bessent (Treasury Secretary), and the selection of Kevin Warsh as Fed Chair, as well as the nearing passage of the CLARITY Act, The Mooch was all praises.
He maintains an ambitious $150k price target for the end of the current year and stated that Skybridge Capital is continuing its purchases, calling the current price drop a “buy the dip” opportunity.
Scaramucci is a successful stock market investor and maintains a large crypto portfolio at Skybridge Capital. He had a short 11-day stint with Trump’s White House cabinet back in 2017, before getting fired by the President unceremoniously after a profanity-laced rant against fellow staffers.
Source: https://zycrypto.com/scaramucci-says-trump-memecoins-drained-altcoin-market-yet-sees-bitcoin-reaching-150000-by-year-end/
