Scaramucci Says Bitcoin's Rally Driven by Treasury Signal

Anthony Scaramucci, founder of SkyBridge Capital, made waves in a recent appearance on CNBC's Squawk Box. He claims that the catalyst behind Bitcoin's recent surge is not the Clarity Act or any legislative action, but rather a signal from the Treasury.

The signal he's talking about is the long end of the Treasury curve, which has been under pressure through September. On September 21, 2026, the 10-year yield stood at 4.96%, and the 30-year at 5.29%. This tightening in the long end tells investors something about fiscal and monetary conditions.

Scaramucci argues that a fixed-supply asset like Bitcoin becomes more attractive when it's clear that the Treasury will intervene at the long end, implying that something is amiss with growth prospects. He distinguishes Bitcoin from tokenization use cases, saying it's a standalone digital store of value.