Anthony Scaramucci Praises Elon Musk, Bitcoin, and SEC for SkyBridge Bitcoin ETF Launch
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Anthony Scaramucci Praises Elon Musk, Bitcoin, and SEC for SkyBridge Bitcoin ETF Launch

March 20, 2021      Jafrin Ahmed

Elon Musk’s electric car company Tesla announced the purchase of $1.5 billion worth of Bitcoin earlier this year. Responding to this, SkyBridge Capital’s capital founder and the former White House Director of Communications, Anthony Scaramucci, tweeted on March 19 that Musk owns over $5 billion worth of Bitcoin through his companies and personally. Moreover, in this week itself, he compared Bitcoin to Amazon shares and seeks the U.S. SEC to approve Bitcoin ETF this year. Today, his investment firm SkyBridge Capital announced filing a Bitcoin ETF with the SEC.

Scaramucci-Led SkyBridge Partners First Trust Advisors to File Bitcoin ETF

First Trust Advisors and SkyBridge Capital in an S1 filing with the U.S. Securities and Exchange Commission (SEC) seek to get approval for the First Trust SkyBridge Bitcoin ETF Trust. As per the filing, First Trust Advisor would be the advisor to the ETF while SkyBridge would be the sub-advisor. If approved, the Bitcoin ETF would trade on NYSE Arca.

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Anthony Scaramucci Backs Elon Musk’s Bitcoin Holdings

Scaramucci made unsubstantiated claims that Musk owns over $5 billion in bitcoin via Tesla, SpaceX, and personally.

While Tesla added $1.5 billion worth of bitcoin to its balance sheet in February, Musk said last year he owns just 0.25 bitcoin, which is worth around $15,000 at current prices.

Anthony Scaramucci touched upon the growing concern of Bitcoin’s high energy consumption levels while defending the Tesla CEO that “no living person has done more to protect the planet against climate change,” than Musk.

He pointed out the idea that Musk investing in any digital asset that harmed the environment is “absurd.”

According to Scaramucci, the future of Bitcoin mining is renewable energy and that renewables will replace fossil fuels while adding that bitcoin will become the world’s dominant store of value, replacing gold, equities, and art.

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Bitcoin Climate Change Impact Under Scrutiny

Bitcoin has attracted significant criticism for its high energy use in recent months amid its growing visibility in the mainstream media due to its skyrocketing prices.

Microsoft’s co-founder Bill Gates and Bank of America too criticized the large amount of electricity needed to mine Bitcoin. Gates believes that Bitcoin is not good for the climate as bitcoin’s high carbon footprint could grow as the surging bitcoin price attracts more people to it.

The energy usage comes due to innumerable machines solving complex calculations for creating a new Bitcoin while securing the Bitcoin network.

#Anthony Scaramucci #Bitcoin #Bitcoin ETF #Elon Musk #First Trust Advisors #First Trust SkyBridge Bitcoin ETF Trust #SkyBridge Capital
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.