Anthony Scaramucci, the CEO of SkyBridge Capital, said that the January 2025 launch of Trump coins had a negative impact on the cryptocurrency revolution, arguing that their entry pushed altcoins into a bear market and contributed to an early Bitcoin decline in October 2025. He still sees Bitcoin reaching as high as $150,000 by year-end. The coins cited include Official Trump ($TRUMP) and Melania ($MELANIA), launched by the President and First Lady.
The $TRUMP coin’s surge coincided with a rapid market rally, pushing total market capitalization to as high as $29 billion within two weeks. Scaramucci contends that the Trump meme coins siphoned billions of dollars from the altcoin market and possibly triggered a premature altcoin bear market, noting that 2025 was the only post-halving year without an altcoin boom since 2017. Despite the criticism, he praised the administration’s pro-crypto reforms and referred to Trump as the ‘Crypto President.’
He pointed to appointments such as David Sacks as Crypto Czar, Paul Atkins as SEC Chair, Scott Bessent as Treasury Secretary, and the selection of Kevin Warsh as Fed Chair, as well as the nearing passage of the CLARITY Act, as factors supporting a favorable environment. He reiterated a $150,000 year-end price target and indicated SkyBridge continues purchasing, describing the current price drop as a buy-the-dip opportunity. Scaramucci is a seasoned investor with a sizeable crypto portfolio at SkyBridge, and he previously spent 11 days in Trump’s White House in 2017 before his dismissal.
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