Skip to navigationSkip to main contentSkip to right columnBibhu PattnaikMon, June 22, 2026 at 10:16 PM GMT+2 2 min readSkyBridge Capital founder Anthony Scaramucci is not backing away from Bitcoin.Scaramucci, a Goldman Sachs veteran briefly served as White House Communications Director under Trump in 2017 before being dismissed after just 11 days. He has since become one of Wall Street's most vocal Bitcoin advocates.In a post on X Scaramucci laid out five specific reasons he remains bullish, even as the asset has struggled through a difficult stretch.Scarcity enforced by code, not promisesScaramucci's first point centers on Bitcoin's fixed supply. With a 21 million coin cap enforced by code rather than policy, he argued the asset stands apart in a world carrying $37 trillion in debt."That's the whole thesis," he wrote.This is a forced selloff, not a broken thesisHis second point attributed the recent decline to mechanical selling pressure rather than any deterioration in fundamentals.Miners covering operating costs and leveraged positions unwinding, he said, are driving the move, not a change in the underlying case for Bitcoin.Related: Economist who predicted 2008 crash reveals next Bitcoin targetInstitutional infrastructure isn't going anywhereScaramucci's third point focused on the institutional rails built since 2024. Custody solutions, ETF infrastructure, and regulated trading access, he argued, don't disappear because the price has fallen.He described that infrastructure as a permanent floor under the asset, regardless of short-term price action.A $1.3 trillion asset chasing a $29 trillion marketThe Wall Street veteran's fourth point focused on the size gap between Bitcoin's market capitalization, roughly $1.3 trillion, and gold's, at approximately $29 trillion.Scaramucci's argument is one of proportion rather than prediction: capturing even 10 percent of gold's role as a store of value would represent a multiple of Bitcoin's current size, not a marginal percentage gain.Popular on TheStreet Roundtable: