Anthony Scaramucci defends Elon Musk’s bitcoin holdings amid recent energy-use concerns, says the Tesla CEO has done more than anyone to fight climate change

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  • Anthony Scaramucci tweeted on Friday that Elon Musk’s Bitcoin investments were not at odds with the Tesla CEO’s mission to combat climate change.
  • Scaramucci said Musk would not invest in a “dirty good” and said Bitcoin mining could be powered by renewable energy.
  • His comments stem from concerns that Bitcoin mining is wasting energy and damaging the climate.
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Anthony Scaramucci defended Elon Musk’s investment in Bitcoin amid recent concerns that mining the coin is wasting energy and polluting the environment.

In a tweet on Friday morning, Scaramucci said that “no living person has done more to save the planet from climate change” than Musk, and is the idea that the Tesla CEO would invest in an asset that harms the environment “absurd”.

Scaramucci’s SkyBridge Capital launched a bitcoin fund in December and invested over half a billion dollars in bitcoin.

Musk’s Tesla bought $ 1.5 billion worth of Bitcoin in February, raising the eyebrows of investors who see a disconnect between the green goals of electric vehicles and Bitcoin’s energy consumption.

But Scaramucci told his 1 million Twitter followers that the future of bitcoin mining lies in renewable energy, and Musk sees it.

“Elon Musk sees the future 1) Renewable energies replace fossil fuels 2) #bitcoin demonizes gold, RE, stocks & art + is becoming the dominant store of value,” tweeted Scaramucci.

While bitcoin miners argue that a large part of mining in the US and abroad is from renewable energy sources like hydropower, wind, and sun, there is no consensus data on the percentage of bitcoin mining that is powered by renewable energy.

A recent survey by the Cambridge Center for Alternative Finance found that 76% of Cryptoasset credentials from miners around the world use renewable energy as part of their energy mix, but renewables still account for 39% of total energy consumption by miners.