Solari Capital leads $220M round in American Bitcoin, investor debate grows around Solana and XRP, Steak ‘n Shake expands to El Salvador.
- AJ Scaramucci’s firm puts over $100 million into Trump-linked Bitcoin mining company.
- Solana holds potential as third popular crypto after Bitcoin and Ethereum.
- Steak ‘n Shake expands to El Salvador, embracing Bitcoin culture.
Scaramucci Family Backs Major Bitcoin Mining Firm
Solari Capital, led by AJ Scaramucci, invested over $100 million in American Bitcoin, a mining firm linked to family members of U.S. President Donald Trump. The funding was part of a $220 million investment round in July. This round came just months before American Bitcoin went public through a reverse merger in September.
The backing had not been disclosed until now. Anthony Scaramucci, the former White House communications director and AJ’s father, also contributed a smaller amount. Other known investors include Tony Robbins, Cardano’s Charles Hoskinson, Grant Cardone, and Peter Diamandis.
American Bitcoin is now among the top 25 public Bitcoin holders, showing strong investor confidence in their mining operations in the U.S.
Solana Gains Attention Among Investors
According to Anthony Bassili, president of Coinbase Asset Management, crypto investors are still focused mainly on Bitcoin and Ethereum. He said Bitcoin is usually the first step for new investors, followed by Ethereum. Solana is starting to stand out, but there’s still debate over what the next best crypto asset should be.
Bassili noted a “very wide gap” between Solana and assets like XRP. He believes it’s still unclear what network or application will capture strong long-term interest in the fourth position after Solana.
Steak ‘n Shake Expands to El Salvador
U.S. fast food chain Steak ‘n Shake has announced plans to expand into El Salvador. The company began accepting Bitcoin payments in May of this year. In a recent post on X (formerly Twitter), Steak ‘n Shake expressed excitement over its move into “Bitcoin country.”
El Salvador was the first country to make Bitcoin legal tender, and it continues to attract Bitcoin-friendly businesses like Steak ‘n Shake. The expansion highlights growing use of Bitcoin in real-world services around the globe.
Source: cointelegraph.com
