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Elon Musk Hold $5 Billion in Bitcoin, Anthony Scaramucci says

Elon Musk, the number 2 world’s richest man and CEO of Tesla and SpaceX could own $5 billion worth of Bitcoin, according to billionaire fund manager and SkyBridge Capital CEO, Anthony Scaramucci.

The former White House director of communications claimed that Elon Musk owned over $5 billion in Bitcoin through his companies and personally. Scaramucci also said that he understood that alongside Tesla, even SpaceX owns BTC on its balance sheet.

The billionaire made this known on his Twitter:

Elon Musk didn’t stop with Tesla. I understand that SpaceX owns bitcoin on its balance sheet.

Elon Musk has now become synonymous with cryptocurrencies. For years, he has spoken up for Bitcoin and more recently for Dogecoin. He has even been called the “CEO of Dogecoin.”

Recall that Tesla bought $1.5 billion worth of Bitcoin, adding the green-focused company to the list of many companies who now own the king cryptocurrency. This move came two weeks after the automaker’s CEO, Elon Musk, added the hashtag #bitcoin to his Twitter bio. A move that helped to push the price of Bitcoin as much as 20% to $38,566.

Scaramucci believes that Elon Musk’s love for innovations, electric cars, and green energy would push him to invest in renewable Bitcoin mining.

Recently, there has been a lot of talk about Bitcoin mining and carbon footprint. Bitcoin has been accused of eating up too much energy without any real use apart from solving complex mathematical calculations. Bitcoin mining farms make use of surplus energy produced from a clean source such as a hydro power plants  and dams.

Scaramucci sees Elon Musk as the key to Bitcoin-related “energy FUD.” He said: 

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 [the] dominant store of value. [The] answer to energy FUD is Elon Musk!

Recently, Scaramucci, though late to the Bitcoin narrative, has been addressing bearish narratives, such as Bitcoin’s reliance on high energy consumption. He also recently noted that Bitcoin is better than gold as more people adopt the coin.

If you have any questions and comments on Bitcoin today, use the form below to reply.


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Published under: Technical Analysis

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