SkyBridge Capital CEO says Elon Musk owns over $5 billion in Bitcoin through Tesla and SpaceX 🚨 This article is 4 years old...
SkyBridge Capital CEO says Elon Musk owns over $5 billion in Bitcoin through Tesla and SpaceX
Tesla's $1.5 billion investment in Bitcoin is just a portion of Elon Musk's total crypto holdings, according to Anthony Scaramucci.
2 min read
Updated: Mar. 19, 2021 at 11:08 pm UTC
Electric car giant Tesla’s $1.5 billion investment in Bitcoin is less than one-third of the total crypto reserves held by Elon Musk and his companies, Anthony Scaramucci, CEO of investment firm SkyBridge Capital, asserted today.
“Elon Musk didn’t stop with Tesla. I understand that SpaceX owns Bitcoin on its balance sheet,” Scaramucci tweeted, adding:
“Elon Musk owns over $5 billion in Bitcoin via Tesla, SpaceX, and personally.”
Elon Musk didn’t stop with Tesla. I understand that SpaceX owns #bitcoin on its balance sheet. @elonmusk owns over $5 billion in #bitcoin via Tesla, SpaceX, and personally. No living person has done more to protect the planet against climate change. (1/2)
— Anthony Scaramucci (@Scaramucci) March 19, 2021
On February 8, Tesla disclosed its $1.5 billion Bitcoin investment via its Form 10-K filed with the US Securities and Exchange Commission. SpaceX, on the other hand, is not a public company, thus it is not obligated to publish such information. Some reports also previously suggested that Richard Lee, senior treasury director SpaceX, attended the MicroStrategy cryptocurrency conference last month.
SpaceX attended Microstrategy's #Bitcoin conference. pic.twitter.com/vCThqFGEHe
— Documenting Bitcoin ? (@DocumentingBTC) February 4, 2021
In its filing, Tesla explained that its investment policy was updated in January 2021 to provide “more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.”
Scaramucci’s latest statements come amid growing concerns regarding the negative impact Bitcoin and other blockchains—and non-fungible tokens specifically—are having on the ecosystem. Scaramucci, however, argued that “no living person has done more to protect the planet against climate change” than Elon Musk.
“Idea [that] Elon Musk would invest in ‘dirty asset’ is absurd. Future of Bitcoin mining is renewable energy,” Scaramucci continued, adding, “Elon Musk sees future 1) renewables replace fossil fuels 2) Bitcoin demonetizes gold, RE, equities & art + becomes dominant store of value.”
Idea @elonmusk 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 dominant store of value
Answer to energy FUD is Elon Musk!
— Anthony Scaramucci (@Scaramucci) March 19, 2021
Apparently, this implies that if Elon Musk invested a significant amount of his and his companies’ funds in BTC, this proves that Bitcoin’s blockchain is actually not as harmful to the environment as some critics claim.
“Answer to energy FUD is Elon Musk!” Scaramucci concluded.
As CryptoSlate reported, a research report compiled by one of Bank of America’s analysts claimed that verification of Bitcoin transactions results in the same amounts of CO2 emissions as those of Greece—around 60 tons.
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Liam Frost
Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
South African-born Elon Musk has founded several companies, including X.com (which later became PayPal), SpaceX and Tesla Motors.