u.today
Investment firm SkyBridge Capital, whose founder Anthony Scaramucci had a brief stint at the Trump White House, has bought carbon credits from environmental platform MOSS.Earth to offset the CO2 footprint of the Bitcoin held by its products.
Scaramucci predicts that Bitcoin mining will be fully powered by green energy by the end of the 2020s.
For now, he believes that purchasing carbon credits is a viable solution for making the largest cryptocurrency “greener”:
In the interim, carbon offsets represent an effective way to green the bitcoin network and facilitate adoption by ESG-minded investors.
SkyBridge bought 38,436 MCO2 tokens from MOSS, with each of them representing one ton of CO2 emissions.
As reported by U.Today, hedge fund company One River Asset Management filed to launch a carbon-neutral Bitcoin exchange-traded fund in late May.
It also bought tokenized carbon credits from MOSS and later introduced the platform to SkyBridge.
MOSS claims that it has the largest inventory of carbon offsets in the world (over 20 million tons).