Elon Musk, the Tesla TSLA billionaire and outspoken Bitcoin supporter, raised the eyebrows of investors when he added $ 1.5 billion in Bitcoin to his electric car company’s balance sheet last month.

Bitcoin price has risen since Musk bet on bitcoin, but concerns about Bitcoin’s huge carbon footprint have weighed on the cryptocurrency.

Hedge fund manager Anthony Scaramucci, whose tenure as Donald Trump’s communications director in 2017 lasted only eleven days, said Musk had “done more to protect the planet from climate change” than “any living person” – citing suggestions Bitcoin would invest in Musk if it were “absurd” for the environment.

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“No more living person has done more to protect the planet from climate change,” Scaramucci said of Musk on Twitter, adding the idea that Musk would invest in [a] “Dirty Asset” is absurd. [The] The future of bitcoin mining is renewable energy. “

According to Scaramucci, renewable energies will replace fossil fuels, while Bitcoin will become the world’s dominant store of value, replacing gold, stocks and art.

“”[The] Answer to energy [fear, uncertainty and doubt] is Elon Musk, “Scaramucci tweeted. Scaramucci’s Skybridge Capital, a New York-based hedge fund fund, launched the Skybridge Bitcoin Fund earlier this year, which offers high net worth investors exposure to Bitcoin.

But Bitcoin, along with many other cryptocurrencies, has generated significant criticism of its high energy consumption in recent months as the rising Bitcoin price has brought Bitcoin back into the spotlight.

The latest analysis has shown that Bitcoin is now using as much energy as all of Norway. This energy is expended in the creation of new bitcoins, which are unlocked or “broken down” by computers that solve complex calculations that also record transactions and secure the bitcoin network.

Billionaire philanthropist Bill Gates warned this month that Bitcoin was “not a great climate thing” and feared that Bitcoin’s large carbon footprint could increase as the rising Bitcoin price attracts more people. “Bitcoin consumes more electricity per transaction than any other method known to man,” Gates said in a recent interview with the New York Times NYT.

Bitcoin’s proponents, however, claim that a significant part of its network uses renewable energy sources like hydro, wind, and sun – something they expect to grow as renewable energies get cheaper and bitcoin miners try to save money. For many bitcoin mining networks in China, fossil fuels like coal currently remain a popular source of energy for cryptocurrency computers.

According to a recent survey by the Cambridge Center for Alternative Finance, the share of renewable energy used by Bitcoin and similar cryptocurrency miners around the world as part of their total energy consumption is estimated at just 39%.

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Meanwhile, Scaramucci also made unsubstantiated claims that Musk “owns over $ 5 billion worth of Bitcoin through Tesla, SpaceX, and personally.” While Tesla added $ 1.5 billion worth of bitcoin on its balance sheet in February, Musk said last year he owns just 0.25 bitcoin – worth around $ 15,000 at current prices.

SpaceX, the California-based aerospace manufacturer that is also run by Musk, may not have bought Bitcoin. SpaceX did not respond to a request for comment.