The founder of SkyBridge Capital and former White House Director of Communications, Anthony Scaramucci, made a somewhat surprising statement earlier today saying that Elon Musk owns about $5 billion worth of BTC personally and through his companies. 

  • Elon Musk’s electric vehicle and clean energy giant, Tesla, made the news in February when it was revealed that the company had purchased $1.5 billion worth of BTC earlier this year. 
  • This impressive milestone in bitcoin’s adoption cycle came after a long and controversial history between the primary cryptocurrency and Musk, who previously dismissed the asset’s qualities on a few occasions. 
  • Now, though, SkyBridge Capital’s founder, Anthony Scaramucci, took it to Twitter to assert that Musk didn’t stop with only one BTC purchase for Tesla. Although he failed to provide sources, Scaramucci said: “I understand that SpaceX owns bitcoin on its balance sheet.” 
  • Furthermore, he believes that the CEO of Tesla and SpaceX has bought some portions of the cryptocurrency for himself and owns over $5 billion through his companies and personally. 
  • Scaramucci also touched upon the growing concern of BTC’s high energy consumption levels. However, he noted that there’s more to the story and Musk’s actions prove it.  
  • “No living person has done more to protect the planet against climate change. [The] idea Elon Musk would invest in ‘dirty asset’ is absurd. [The] future of bitcoin mining is renewable energy. Elon Musk sees future 1) renewables replace fossil fuels 2) bitcoin demonetizes gold, RE, equities & art + becomes [the] dominant store of value.”  

  • Previously, Microsoft’s co-founder, Bill Gates, and Bank of America criticized the large amount of electricity needed to mine the first-ever cryptocurrency. Furthermore, BoA claimed that BTC uses the same amount of energy per year as countries like Greece.  
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