Here’s how much Tesla’s Elon Musk owns in bitcoin now from only 0.25 BTC back in 2018

The vitality utilization in single bitcoin mining is equal to the ability consumption of a mean U.S. family over 25.91 days.
(Image: REUTERS)

Tesla and SpaceX CEO Elon Musk has been among the many key drivers of buyers’ sentiments round bitcoin and the worth of the cryptocurrency as effectively to an extent. But there has hardly been any revelation round how much 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 greater than $5 billion in bitcoin. In a tweet earlier this week, defending Musk’s investments in bitcoin amid current considerations associated to bitcoin mining’s influence on the setting, Scaramucci mentioned Elon Musk owns over $5 billion in bitcoin by way of Tesla, SpaceX, and personally. No dwelling particular person has carried out extra to guard the planet towards local weather change, he added.

Musk had final shared how much bitcoin he owned back in February 2018 in a tweet. And that too was despatched by a pal. “I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.” Scaramucci, who had formally launched the SkyBridge Bitcoin Fund LP of round $310 million of bitcoin in January 2021 for rich buyers who’re in search of publicity to the crypto king, additional argued that the concept Elon Musk would make investments 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.

Also learn: Why Warren Buffett desires to remain away from bitcoin at the same time as cryptocurrency has grown 6X in 5 months

Musk had purchased $1.5 billion in bitcoin in February this year that had renewed the argument round Musk’s precedence to handle local weather change on one hand and bitcoin’s influence on the setting as a result of immense vitality required to mine it on the opposite. According to a analysis paper by cryptocurrency economist Alex De Vries revealed in the journal Joule lately citing info from citycarbonfootprints.information, bitcoin mining is effectively on its solution to equal the annual carbon emission of 98.9 megatons (Mt) CO2 produced by the London metropolis. According to 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 vitality utilization is equal to the ability consumption of a mean U.S. family over 25.91 days.

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