Today, in the cryptocurrency space, AJ Scaramucci’s Solari Capital has invested more than $100 million in US Bitcoin, and cryptocurrency executives are weighing investor prospects beyond Bitcoin and Ethereum. Meanwhile, Steak ‘n Shake announced its expansion into El Salvador.
Scaramucci Family Invests More than $100 Million in President Trump’s Bitcoin Mining Company: Report
The Scaramucci family has invested more than $100 million in American Bitcoin, a mining company with ties to US President Donald Trump’s sons.
The funding was provided through Solari Capital, the investment firm founded by AJ Scaramucci, who led American Bitcoin’s $220 million fundraising in July, months before it went public in a reverse merger in September, Fortune reported. The miner has so far not disclosed its backers.
AJ Scaramucci told Fortune that Solari Capital contributed “more than $100 million,” but declined to reveal the exact amount. His father, Anthony Scaramucci, also participated with a small investment.
Other contributors include Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis, according to the report.
There is a ‘very large gap’ between XRP and Solana investor interest: Executive:
Anthony Basili, president of Coinbase Asset Management, says the average investor has yet to reach a clear consensus on which crypto assets outside of the top two deserve serious attention.
“There is a very clear view in the investor community that Bitcoin is the right place for your first portfolio. Next is Bitcoin, then Ethereum,” Bassili said in an interview with Cointelegraph at the Bridge Conference in New York City on Wednesday.
Bassili noted that Solana is “probably” the third asset on the radar. “The market is then very uncertain about what asset it wants to own next,” he said, adding that after Solana there is a “very large gap” with XRP.
“We need to look at the product-market fit for the next networks and the next applications that fall into that fourth place,” he added.
Steak ‘n Shake announces expansion into El Salvador
American fast food chain Steak ‘n Shake announced its expansion into El Salvador in an announcement Saturday.
Steak ‘n Shake first started accepting BTC as a payment method in its restaurant locations in May. The company announced in a Saturday X post amplified by El Salvador’s Bitcoin Authority:
“El Salvador is a wonderful country. We were honored to come to the land of Bitcoin and serve tallow fries and distribute grass-fed and Wagyu beef tallow cooking oil. It was the beginning of a beautiful friendship.”
The company has become an icon in the Bitcoin community since its decision to accept BTC, marking the growing adoption of BTC as a payment method by merchants around the world.
