Today in crypto, Solari Capital, led by AJ Scaramucci, has put more than $100 million into American Bitcoin, a crypto executive weighs in on investor outlook beyond Bitcoin and Ethereum. Meanwhile, Steak ‘n Shake announces expansion into El Salvador.
Scaramucci family invested over $100M in Trump’s Bitcoin mining firm: Report
The Scaramucci family has invested over $100 million into American Bitcoin, the mining company tied to US President Donald Trump’s sons.
The funding came through Solari Capital, the investment firm founded by AJ Scaramucci, which led the company’s $220 million round in July, months before American Bitcoin went public through a reverse merger in September, according to a report from Fortune. The miner did not previously disclose its backers.
AJ Scaramucci told Fortune that Solari Capital contributed “over $100 million,” though he did not reveal the exact amount. His father, Anthony Scaramucci, also participated with a smaller investment.
Other contributors included Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone and entrepreneur Peter Diamandis, per the report.
‘Very wide gap’ between XRP and Solana investor interest: Exec
The average investor still hasn’t reached a clear consensus on which crypto assets beyond the top two warrant serious attention, according to Anthony Bassili, president of Coinbase Asset Management.
“There’s a very, very clear view in the investor community in terms of the right first portfolio is Bitcoin. The next is Bitcoin, Ethereum,” Bassili said during an interview with Cointelegraph at The Bridge conference in New York City on Wednesday.
Bassili pointed out that Solana is “maybe” the third asset on the radar. “The market is very unsure as to what’s the next asset they want to own after that,” he said, adding that after Solana, there is a “very wide gap” with XRP.
“We have to see the product market fit of the next network or the next application that will enter that fourth position,” he added.
Steak ‘n Shake announces expansion into El Salvador
American fast food chain company Steak ‘n Shake announced it is expanding to El Salvador in an announcement on Saturday.
Steak ‘n Shake first began accepting BTC as a form of payment at its restaurant locations in May. The company announced in a Saturday X post that was amplified by El Salvador’s Bitcoin Office:
“El Salvador is a great country. We were honored to be in Bitcoin country, serving beef tallow fries and handing out grass-fed and Wagyu beef tallow cooking oil. The beginning of a beautiful friendship.”
The company has become iconic in the Bitcoin community following its decision to accept BTC, showcasing the growing adoption of BTC as a payment method by merchants around the world.