SkyBridge Capital founder Anthony Scaramucci went on CNBC’s Squawk Box on Tuesday to focus on his new guide, All the Wrong Moves, and used the look to lay out a particular studying of why Bitcoin (CRYPTO:BTC) has rallied over the previous few weeks. His reply pointed to the long finish of the Treasury curve.
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Scaramucci’s Bessent Thesis
Asked what moved the market, Scaramucci said, “I think the catalyst was Secretary Bessent basically saying that he was going to step in and try to help the longer end of the curve, whether it’s the ten or the 30 year. People looked at that and said, wait a minute, nothing’s going to stop this train.”
The logic is a liquidity-and-fragility argument. A signal that the Treasury will intervene at the long finish tells buyers something about the fiscal and financial situations requiring intervention. A fixed-supply asset becomes more enticing because of what the signal implies.
What the Long End Actually Did This Month
The bond-market situation Scaramucci is describing is seen in the Treasury information. On September 21, 2026, the 10-year yield stood at 4.96%, the 20-year at 5.33%, and the 30-year at 5.29%. Earlier in the month, on September 1, 2026, the 10-year was 4.79% and the 30-year was 5.27%. The long finish has been under stress through September, which is the sample Scaramucci is pointing to.
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The 10-year minus 2-year unfold narrowed to 0.20% on September 21, 2026, down from 0.50% on August 21, 2026. The CBOE Volatility Index closed at 14.87 on the same date, exhibiting broad equity concern was not elevated.
Why He Set the Clarity Act Aside
On the legislative angle, Scaramucci was direct: “I think very much so. I mean, listen, you know the Clarity Act would have helped tokenization. The Clarity Act would have helped some of the layer one tokens. I think Bitcoin is a standalone as a digital store.” He distinguished Bitcoin from tokenization use circumstances rather than treating the invoice as a ahead catalyst, according to SkyBridge Capital.
Uber Analogy and a Personal Sale
Scaramucci made an adoption argument: “If the technology is better than the existing technology, it eventually gets adopted. We weren’t ready for Uber. Andrew and the people wanted Uber. The taxi commission didn’t want Uber. The mayors didn’t want Uber. Right. I submit to everybody here if the technology is better than the existing technology, it eventually gets adopted.” That is an argument about incumbent resistance, according to SkyBridge Capital.
Scaramucci grounded the level with a personal transaction: he said he bought Bitcoin on the fifteenth of September to pay taxes, and the proceeds hit his JPMorgan account in about ten minutes. On tokenized markets, he said buyers would see “finality in hours, post the days” and fewer intermediaries, according to SkyBridge Capital. He attributed half of the current transfer to a short squeeze over the last three weeks, which we can’t independently confirm.
Where Bitcoin Actually Is
Bitcoin traded at $85,732.79 as of 13:42 UTC on September 22, 2026, and crypto costs transfer constantly. Over one week, Bitcoin is up 14.37%, from $75,584.17 on September 15, 2026. Over one month, it is up 11.21%, from $77,729.36 on August 23, 2026.
Bitcoin is down 1.20% 12 months to date and down 23.32% over one 12 months. The transfer Scaramucci is describing is a restoration inside a down 12 months.
What Would Prove Him Right
Scaramucci’s claim is testable in precept. He is arguing that intervention at the long finish is a signal about situations rather than a reassurance about growth, and that a fixed-supply asset advantages from that studying. Whether the September rally displays that channel, positioning, legislative disappointment, or something else is genuinely contested. Readers can watch the long finish of the Treasury curve, which is out there at Treasury’s official yield information web page, alongside Bitcoin’s price to see which of those explanations holds up.
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