Tesla and SpaceX CEO Elon Musk has been amongst the crucial drivers of investors’ sentiments about bitcoin and the price tag of the cryptocurrency as effectively to an extent. But there has hardly been any revelation about how a great deal bitcoin does Musk owns. However, if one has to go by former White House Communications Director and international hedge fund SkyBridge Capital’s founder Anthony Scaramucci, who himself is a bitcoin bull, Musk owns more than $5 billion in bitcoin. In a tweet earlier this week, defending Musk’s investments in bitcoin amid current issues associated to bitcoin mining’s effect on the atmosphere, Scaramucci mentioned Elon Musk owns more than $5 billion in bitcoin by means of Tesla, SpaceX, and personally. No living individual has accomplished more to guard the planet against climate alter, he added.
Musk had final shared how a great deal bitcoin he owned back in February 2018 in a tweet. And that also was sent by a buddy. “I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.” Scaramucci, who had officially launched the SkyBridge Bitcoin Fund LP of about $310 million of bitcoin in January 2021 for wealthy investors who are seeking for exposure to the crypto king, additional argued that the concept Elon Musk would invest in “dirty asset” is absurd. “Future of bitcoin mining is renewable energy. Elon Musk sees future 1) renewables replace fossil fuels 2) bitcoin demonetizes gold, RE, equities & art + becomes dominant store of value,” he tweeted.
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Musk had purchased $1.5 billion in bitcoin in February this year that had renewed the argument about Musk’s priority to address climate alter on one hand and bitcoin’s effect on the atmosphere due to the immense power necessary to mine it on the other. According to a study paper by cryptocurrency economist Alex De Vries published in the journal Joule not too long ago citing facts from citycarbonfootprints.information, bitcoin mining is effectively on its way to equal the annual carbon emission of 98.9 megatons (Mt) CO2 created by the London city. According to the Digiconomist weblog, founded by De Vries, a single bitcoin transaction has a carbon footprint of 359.04 kgCO2 – equivalent to the carbon footprint of 795,752 VISA transactions or 59,840 hours of watching YouTube. The power usage is equivalent to the energy consumption of an typical U.S. household more than 25.91 days.