This is how a lot Tesla’s Elon Musk owns in bitcoin now from solely 0.25 BTC again in 2018

Elon Musk, Tesla, BitcoinThe power utilization in single bitcoin mining is equal to the ability consumption of a mean U.S. family over 25.91 days.
(Picture: REUTERS)

Tesla and SpaceX CEO Elon Musk has been among the many key drivers of traders’ sentiments round bitcoin and the value of the cryptocurrency as effectively to an extent. However there has hardly been any revelation round how a lot bitcoin does Musk owns. Nevertheless, if one has to go by former White Home Communications Director and international hedge fund SkyBridge Capital’s founder Anthony Scaramucci, who himself is a bitcoin bull, Musk owns greater 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 affect on the setting, Scaramucci stated Elon Musk owns over $5 billion in bitcoin by way of Tesla, SpaceX, and personally. No residing individual has accomplished extra to guard the planet towards local weather change, he added.

Musk had final shared how a lot bitcoin he owned again in February 2018 in a tweet. And that too was despatched by a pal. “I actually personal zero cryptocurrency, other than .25 BTC {that a} pal despatched me a few years in the past.” Scaramucci, who had formally launched the SkyBridge Bitcoin Fund LP of round $310 million of bitcoin in January 2021 for rich traders who’re in search of publicity to the crypto king, additional argued that the concept Elon Musk would spend money on “soiled asset” is absurd. “Way forward for bitcoin mining is renewable power. Elon Musk sees future 1) renewables exchange fossil fuels 2) bitcoin demonetizes gold, RE, equities & artwork + turns into dominant retailer of worth,” he tweeted.

Additionally learn: Why Warren Buffett desires to steer clear of bitcoin whilst cryptocurrency has grown 6X in 5 months

Musk had purchased $1.5 billion in bitcoin in February this 12 months that had renewed the argument round Musk’s precedence to deal with local weather change on one hand and bitcoin’s affect on the setting because of the immense power required to mine it on the opposite. Based on a analysis paper by cryptocurrency economist Alex De Vries printed within the journal Joule lately citing data from, bitcoin mining is effectively on its method to equal the annual carbon emission of 98.9 megatons (Mt) CO2 produced by the London metropolis. Based on the Digiconomist weblog, based by De Vries, a single bitcoin transaction has a carbon footprint of 359.04 kgCO2 – equal to the carbon footprint of 795,752 VISA transactions or 59,840 hours of watching YouTube. The power utilization is equal to the ability consumption of a mean U.S. family over 25.91 days.

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