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Time of India
4 days ago
- Business
- Time of India
Trump-Musk rift widens over 'big, beautiful bill': Can Democrats woo President's fired 'first buddy'?
Can Democrats woo Elon Musk? Live Events Musk attacks Trump's 'big, beautiful' bill (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Tech billionaire Elon Musk stepped up his attacks on President Donald Trump's signature bill on Wednesday with a barrage of posts on X slamming the megabill, saying in one that no one "should be able to stomach it". He instructed his more than 200 million followers to call members of Congress to "KILL the BILL." Musk Wednesday alone has already posted or helped amplify posts on X criticizing the bill more than 25 times. "Mammoth spending bills are bankrupting America! ENOUGH," Musk wrote in one another, Musk was more forceful, writing, "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL." Musk has said he is stepping away from politics to focus on his businesses. Anthony Scaramucci , founder and CEO of SkyBridge Capital, has suggested Democrats could gain Elon Musk's support by taking a strategic approach: reminding him that a large portion of his customers likely identify as Democrats, and showing openness to some of his ideas, reported on his podcast The Rest is Politics US, Scaramucci, said it was important to "woo" Musk back after a "cooling off period." Scaramucci was fired by Donald Trump just 10 days into the job as his White House communications director in added that Democrats could move to the centre and forgo more left-wing policies to "bring Elon Musk back into the fold as a prodigal son."However, he said it was unlikely Democrats would do so. It would be a coup for Democrats if they could court the influence of the world's richest man once more. Elon Musk, the world's richest private individual, contributed $288 million to Donald Trump's 2024 election campaign, according to public he has since distanced himself from the Trump administration, voicing opposition to the controversial spending proposal dubbed the 'big, beautiful bill,' and has chosen to reduce his political engagement to concentrate more on his business the podcast, Scaramucci outlined the steps he would take to "woo" Musk. He said: "If I were a Democrat I'd be trying to woo him back. I would tell him 'look your customers are primarily Democrats, let's give a cooling off period, come back into the party and help us and lets acknowledge some of the things that you are right about'"."The Democrats are in sore need of a [former president Bill] Clinton-like experience," he continued. "A radical centrist who can come in, help reform the government, lay-off of the hard-left stuff that the country really doesn't like, go for the heartland which was your base."Elon Musk has ramped up his opposition to Donald Trump's One, Big, Beautiful Bill, criticising it in about two dozen posts on his social media platform X in the past 24 tech billionaire posted on X earlier this week that the bill would add to the US budget deficit and saddle Americans with "crushing" debt. On Tuesday, he described it as a "disgusting abomination", in a widening rift between the left the administration abruptly last week after 129 days working to cut costs with his team, known as Doge. The comments mark his first public disagreement with Trump since leaving government, after having previously called the plan "disappointing".White House officials said Donald Trump remains committed to passing his spending and tax bill through the US Senate, despite the increasingly vocal opposition from his billionaire about Musk's comments soon after the first post, White House press secretary Karoline Leavitt said "the President already knows where Elon Musk stood on this bill". "This is one, big, beautiful bill," she added. "And he's sticking to it."The comments from Musk reflect wider tensions among Republicans over the plan, which faced stiff opposition from different wings of the party as it worked its way through the House.
Yahoo
31-05-2025
- Business
- Yahoo
Anthony Scaramucci Says 'Own Your S***' Is The First Rule for Young Investors: Urges Them To Embrace Change, Take Risks And Learn From Market Veterans Like Him
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Founder and CEO of SkyBridge Capital, Anthony Scaramucci, has some no-nonsense advice for young investors looking for success in an uncertain business landscape: own your flaws, consult older investors and embrace constant change. What Happened: Speaking on his podcast Open Book with Anthony Scaramucci, he said, "Own your s*** in life." "And once you're able to own your s*** in life you can make massive improvements and it'll help your psychological health. It'll help your happiness and it'll help your outlook on life." Trending: — no wallets, just price speculation and free paper trading to practice different strategies. He highlighted that this should be the "number one" priority for any individual. Highlighting the importance of resilience, he said: "People that are in business for three, four decades, they've had at least eight to nine cataclysms... those bear markets steel you for staying in things and being patient." This piece of advice echoes lessons Scaramucci learnt from unknowingly holding on to $1,200 worth of Microsoft stock from 1992, which went up to $288,000 over twenty years. For young investors, Scaramucci recommended consulting with seasoned professionals: "Seek out older investors that have been destroyed in the markets like me over the nine cycles that I've gone through because it'll help you. It'll give you perspective and it'll teach you patience in the markets."Why It Matters: Scaramucci stressed the value of risk-taking as a strategy for growth. "You have to embrace new technologies and you have to embrace new ideas," he said. "Your brain is incredibly neuroplastic. It definitely can evolve and reshape its thinking." Advising young investors not to harbor a fear-based mindset, he said: "When people say the word risk sometimes they only hear downside risk... But risk also means reward. And you got to be willing to take some risk." Scaramucci, who regularly doles out advice on his podcast, reiterated his stance on Bitcoin (CRYPTO: BTC) being the single best investment idea earlier this week. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Photo courtesy: Al Teich / Send To MSN: Send to MSN This article Anthony Scaramucci Says 'Own Your S***' Is The First Rule for Young Investors: Urges Them To Embrace Change, Take Risks And Learn From Market Veterans Like Him originally appeared on
Yahoo
17-05-2025
- Business
- Yahoo
Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Anthony Scaramucci, the founder and CEO of SkyBridge Capital, said Wednesday that Bitcoin (CRYPTO: BTC) would be deemed a full-fledged asset class once it hits $500,000 a piece. What Happened: The Bitcoin bull, while speaking at CoinDesk's Consensus 2025 conference, stated, '$3 trillion is like a mag 7 stock, $20 trillion is an asset class. So if you tell me that Bitcoin can get to $500,000, people will be writing stories that Bitcoin is an asset class.' Scaramucci emphasized the importance of Bitcoin matching the market capitalization of gold, which is presently over $21 trillion, in order to be recognized as a separate asset class. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. Scaramucci suggested that the ongoing influx of capital into the Bitcoin market via exchange-traded funds and the adoption of strategies following Strategy Inc.'s (NASDAQ:MSTR) lead presented an optimistic future for the apex cryptocurrency. 'We may not actually be bullish enough," he said. Despite the political risks associated with crypto becoming a contentious issue in U.S. politics, Scaramucci sees the incentives aligning for bipartisan support. He added, 'If you get bitcoin to $500,000, people won't just say it's an asset class—they'll treat it like one.' Why It Matters: Scaramucci's bullish outlook aligned with his previous statements. Earlier this week, he said that Bitcoin was undergoing a structural transformation, evolving from a volatile tech-aligned investment to a maturing global asset more akin to digital gold. Scaramucci has mixed feelings regarding President Donald Trump's cryptocurrency policies, asserting that the healthy developments around legislation and regulatory clarity were marred by his family's involvement in the space. Scaramucci has been vocal about his Bitcoin support, revealing previously that 70% of his wealth is tied up in the leading cryptocurrency. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Photo Courtesy: Al Teich On Send To MSN: Send to MSN This article Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold originally appeared on
Yahoo
17-05-2025
- Business
- Yahoo
Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Anthony Scaramucci, the founder and CEO of SkyBridge Capital, said Wednesday that Bitcoin (CRYPTO: BTC) would be deemed a full-fledged asset class once it hits $500,000 a piece. What Happened: The Bitcoin bull, while speaking at CoinDesk's Consensus 2025 conference, stated, '$3 trillion is like a mag 7 stock, $20 trillion is an asset class. So if you tell me that Bitcoin can get to $500,000, people will be writing stories that Bitcoin is an asset class.' Scaramucci emphasized the importance of Bitcoin matching the market capitalization of gold, which is presently over $21 trillion, in order to be recognized as a separate asset class. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. Scaramucci suggested that the ongoing influx of capital into the Bitcoin market via exchange-traded funds and the adoption of strategies following Strategy Inc.'s (NASDAQ:MSTR) lead presented an optimistic future for the apex cryptocurrency. 'We may not actually be bullish enough," he said. Despite the political risks associated with crypto becoming a contentious issue in U.S. politics, Scaramucci sees the incentives aligning for bipartisan support. He added, 'If you get bitcoin to $500,000, people won't just say it's an asset class—they'll treat it like one.' Why It Matters: Scaramucci's bullish outlook aligned with his previous statements. Earlier this week, he said that Bitcoin was undergoing a structural transformation, evolving from a volatile tech-aligned investment to a maturing global asset more akin to digital gold. Scaramucci has mixed feelings regarding President Donald Trump's cryptocurrency policies, asserting that the healthy developments around legislation and regulatory clarity were marred by his family's involvement in the space. Scaramucci has been vocal about his Bitcoin support, revealing previously that 70% of his wealth is tied up in the leading cryptocurrency. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Photo Courtesy: Al Teich On Send To MSN: Send to MSN This article Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Here's What It Will Take For Bitcoin To Realize $1M Dream According To Anthony Scaramucci
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. SkyBridge Capital Managing Partner Anthony Scaramucci has weighed in on what it would take for Bitcoin to reach $1 million. Cryptocurrency regulations play a critical role in Scaramucci's analysis. President Donald Trump's involvement in the industry has threatened to derail the progress of cryptocurrency bills. Amid a market resurgence in recent weeks, investors in Bitcoin, the largest cryptocurrency by market capitalization, have grown increasingly optimistic and $1 million price predictions are again flooding headlines. Recently, SkyBridge Capital Managing Partner Anthony Scaramucci has weighed in on what it would take for the asset to achieve this seemingly far-flung dream. In an interview with prominent market commentator Anthony Pompliano last week, Scaramucci said there will need to be more buy-in from market players with trillions of dollars in capital, particularly sovereign wealth funds, for Bitcoin's price to hit the $1 million mark. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . 'If you want to see a million dollar Bitcoin, that's when somebody at a sovereign says, Okay, this is part of the infrastructure of the world's financial services architecture, a result of which I have to own some of this property,' he said. Sovereign wealth funds are state-owned investment funds typically fueled by excess revenue. Norway boasts the largest sovereign wealth fund, with $1.74 trillion in assets. According to the Sovereign Wealth Fund Institute, there are about 100 sovereign wealth funds holding about $13.75 trillion in total. While a few of these funds already boast some Bitcoin exposure, most remain on the sidelines. The sovereign wealth funds with known Bitcoin exposure include Bhutan's Druk Holding and Investment with over 12,000 BTC worth about $1.24 billion, Wisconsin Board of Commissioner of Public Lands with 6 million shares of BlackRock's (NYSE:BLK) spot Bitcoin ETF IBIT currently worth nearly $351 million and Abu Dhabi's Mubadala Investment Co. with 8.2 million IBIT shares worth $479 million. Meanwhile, Norway's fund has indirect exposure to the asset through investments in firms such as Coinbase Global (NASDAQ:COIN) and Strategy. Trending: New to crypto? on Coinbase. Scaramucci said U.S. cryptocurrency regulations were critical to get sovereign wealth funds to go all in on Bitcoin. 'There'll be large blocks of buying or people worth 10, 20, $30 trillion buying a half a billion dollars of Bitcoin, buying a billion dollars of Bitcoin,' he said, citing a future where the U.S. has established clear rules for stablecoins, cryptocurrency asset custody and tokenization. Just two weeks ago, the cryptocurrency industry seemed well on its way to gaining these long-clamored-for regulations that could further legitimize the asset class in the world's largest economy. However, in the past week, growing concerns over President Donald Trump's involvement in the space have threatened to derail the progress. Last week, a stablecoin bill that had been making quick progress in the Senate failed to obtain the required votes as several Senate Democrats pulled support at the last minute. Similarly, the House could not hold a joint committee hearing on a cryptocurrency market structure bill after Democrats staged a walkout. The legislative focus has shifted to a probe of Trump's cryptocurrency ventures. A bill has also been introduced to ban senior government officials from creating or promoting cryptocurrencies. Despite these regulatory hiccups, the cryptocurrency market is holding strong as broader risk sentiment improves on cooling trade tensions. As of last look, Bitcoin was trading at $103,000, an increase of more than 9% in the past seven days. Read Next: A must-have for all crypto enthusiasts: . 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Send To MSN: 0 This article Here's What It Will Take For Bitcoin To Realize $1M Dream According To Anthony Scaramucci originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
