Addressing the 2024 US presidential election's lasting impact on bitcoin (BTC-USD) and the greater crypto landscape, SkyBridge Founder and Managing Partner Anthony Scaramucci characterizes President Biden as "being for the rule of law" and ultimately beneficial for markets. Scaramucci held a brief tenure as the White House Director of Communications under the Trump administration in 2017.

"I tell bitcoiners you are at risk if you get somebody that wants to destroy the institutions of the democracy, separation of powers in the constitution. The country has been made great, it is great — it doesn't need to be made great again," Scaramucci tells Yahoo Finance. "It is great and is primarily great because of the traditions in the country, the democracy, the flat decentralized system of government at the top."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

Video Transcript

JOSH LIPTON: Want to switch to another subject you're very familiar with, which is politics. You know, you're not a never Trumper, Anthony, clearly. I mean, you worked for Trump, but you don't--

ANTHONY SCARAMUCCI: Yeah, people say-- yeah, exactly.

JOSH LIPTON: But you don't want him in the White House again, right? So I'm interested though, Anthony, are you therefore suggesting that you think Biden, if he was back for a second term, that would be a positive for Bitcoin?

ANTHONY SCARAMUCCI: OK, so there's a lot of different things there, OK? So we're talking specifically for Bitcoin, I think macro, yes. Because whether you like Mr. Biden or dislike him, he's for the rule of law and he's for the Democratic processes of the United States.

Last time I checked, he didn't try to insurrect the American government after losing an election and he wasn't caught on tape trying to do that. And so I know that trial is going to be delayed, but the American people need to know the facts, you know. Mark Meadows, the former White House chief of staff and a Conservative member of the House Freedom Caucus, is the chief witness against former President Trump. So to me, I tell Bitcoiners, you are at risk if you get somebody that wants to destroy the institutions of the democracy, the separation of powers, and the Constitution.

The country has been made great. It is great. It doesn't need to be made great again. It is great. And it's primarily be great because of the traditions in the country, the democracy, the flat decentralized system of government at the top.

You get Mr. Trump in there, he's made it very, very clear that he wants to persecute journalists that don't like him. He wants to pull FCC licenses of people that are critical. He said he's ready to empower the Department of Justice and go after his political adversaries. He's made all of this very clear.

And he's also on tape saying, hey, I'd like to stay in power. Let's see if we can flip this somehow. And of course, they've got his attorneys on tape conspiring to create fraudulent electors in the electoral college.

So I know he's on a good run right now. I understand politics reasonably well. Michael Dukakis was 10 points ahead of George Herbert Walker Bush at this time in 1988.

Mr. Trump is going to lose this election. Joe Biden will get re-elected. And that will be generally good for the markets, which are at an all time high, I might point out during the Biden administration.

But it'll also be very good for Bitcoiners. Because you may not like the regulation coming out, but at least there's a predictable process to the law. And we'll continue to beat the Biden administration in the court system of the United States.

And so I just want to remind people of that. Moreover, I think the Democrats are finally getting the message. Even Elizabeth Warren herself is starting to get uptight about the $73 million Bitcoin or crypto wallets that are in America right now.