Anthony Scaramucci sounds alarm on Trump and crypto money (3:44)
AJ Scaramucci, a venture capitalist and entrepreneur who founded collectibles platform Treasure Trove, has taken his firm Solari Capital out of stealth, Fortune reported on Thursday. The firm has deployed roughly $350 million across early-stage investing, late-stage growth and in-house incubations.
Scaramucci, a Stanford MBA graduate, began his career workin at Tesla in 2013 before rotating through Google. There, he briefly worked alongside former Alphabet chief executive Eric Schmidt.
He is the son of Anthony Scaramucci, a Wall Street financier who began his career at Goldman Sachs before founding SkyBridge Capital. The New York investment firm now manages billions across hedge fund and crypto strategies.
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The elder Scaramucci served briefly as White House Communications Director during President Trump’s first term in 2017 before being dismissed after ten days. He is well known in the Bitcoin market, and in August 2025, he warned Bitcoin could crash 40% before eventually reaching $500,000.
Bitcoin peaked above $126,000 in October that year before falling roughly 50% in the months that followed.
The thesis: everything becomes programmable
AJ Scaramucci’s investment thesis, which he calls “Programmable Reality,” is built on the idea that as computing power keeps compounding, money, biology, intelligence and physical matter all become things that can be engineered with software-like precision.
He traces the idea back to 2012, when he read Peter Diamandis’ book “Abundance” in his Stanford dorm room.
Solari splits its bets across four verticals. Programmable Intelligence covers AI and compute, with positions in xAI and the AI education platform Kira Learning. Programmable Biology spans drug discovery, gene therapy and longevity.
xAI is an artificial intelligence company founded by Elon Musk that developed the Grok chatbot and merged with SpaceX earlier this year.
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Programmable Matter covers aerospace, defense, energy and robotics.
Programmable Finance, the vertical most relevant to crypto, covers blockchain infrastructure, decentralized finance and what Scaramucci calls monetary-debasement hedges.
The crypto connection
Within Programmable Finance, Solari’s portfolio includes Genius Terminal, a non-custodial multi-chain trading terminal, Fission Labs, which tokenizes venture-backed private companies for liquid secondary trading, and Architect Financial, which Solari describes as the first U.S. derivatives exchange built specifically for the AI economy, according to Fortune.
Solari also backed American Bitcoin, the mining company co-founded by Eric Trump, contributing over $100 million to a $220 million financing round in July 2025. That bet traces back to an 11-year friendship with the founders of U.S. Bitcoin Corporation, which merged into Hut8 before spinning out American Bitcoin.
Scaramucci’s crypto bets sit inside a broader, deliberately contrarian view of where value is being created. He argues that gold and Bitcoin together have generated more market capitalization since 2008 than the entire “Magnificent Seven” group of tech stocks, and that the average life expectancy of a currency is roughly 26 years.
In his view, currency debasement, the gradual erosion of a currency’s purchasing power through government spending and money printing, is a defining feature of 21st-century finance, and assets like Bitcoin, gold and even rare collectibles are different expressions of the same trade: hedging against the decline of traditional money.
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