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Today in cryptocurrency, Solari Capital, spearheaded by AJ Scaramucci, has allocated over $100 million into American Bitcoin, while a crypto executive shares insights on the investment climate beyond Bitcoin and Ethereum. Simultaneously, Steak ‘n Shake reveals plans for expansion into El Salvador.
Scaramucci family invested upwards of $100M in Trump’s Bitcoin mining enterprise: Report
The Scaramucci family has contributed over $100 million into American Bitcoin, the mining firm associated with US President Donald Trump’s offspring.
The investment was facilitated by Solari Capital, the investment advisory established by AJ Scaramucci, which spearheaded the company’s $220 million financing round in July, just months prior to American Bitcoin going public via a reverse merger in September, as reported by Fortune. The miner had not disclosed its investors earlier.
AJ Scaramucci mentioned to Fortune that Solari Capital contributed “over $100 million,” but he didn’t specify the exact sum. His father, Anthony Scaramucci, also made a smaller investment.
Other backers encompassed Tony Robbins, Cardano creator Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis, according to the report.
‘Significant disparity’ between XRP and Solana investor enthusiasm: Exec
The average investor has yet to establish a definitive consensus on which crypto assets, aside from the leading two, merit substantial consideration, as articulated by Anthony Bassili, president of Coinbase Asset Management.
“There’s a very, very distinct perspective within the investor community regarding the ideal initial portfolio being Bitcoin, followed by Bitcoin, Ethereum,” Bassili shared during an interview with Cointelegraph at The Bridge conference in New York City on Wednesday.
Bassili highlighted that Solana is “potentially” the third asset capturing attention. “The market remains quite uncertain about which asset they want to acquire after that,” he remarked, adding that following Solana, there exists a “significant disparity” with XRP.
“We need to observe the product-market fit of the next network or application that will occupy that fourth position,” he noted.
Steak ‘n Shake reveals expansion plans for El Salvador
The American fast-food chain Steak ‘n Shake declared its intentions of expanding to El Salvador in a statement made on Saturday.
Steak ‘n Shake started accepting BTC as a payment method at its outlets back in May. In a Saturday X post, which was endorsed by El Salvador’s Bitcoin Office, the company stated:
“El Salvador is a wonderful nation. We were privileged to be in Bitcoin country, serving beef tallow fries and distributing grass-fed and Wagyu beef tallow cooking oil. The beginning of a beautiful partnership.”
The firm has attained iconic status within the Bitcoin community following its choice to accept BTC, highlighting the rising acceptance of BTC as a payment option by merchants globally.
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