Billionaire investor Chris Sacca says he owns bitcoin and ether - and suggests crypto's environmental costs will fuel clean-energy solutions
Chris Saccaowns bitcoin, ethereum, and several other cryptocurrencies. Lowercase Capital's billionaire founder flagged crypto's energy usage as a problem.
- Sacca suggested the issue could drive innovation in renewable energy.
- See more stories on Insider's business page.
Billionaire investor Chris Sacca owns a bunch of cryptocurrencies including bitcoin and ether, and sees their environmental costs as a problem that could spark creative solutions.
"I own a broad basket ranging from early BTC/ETH to shitcoin lottery tickets," he tweeted on Saturday. "The climate impact bums me out," he continued. "But that is the market impetus for a lot of clean energy innovation."
Sacca, the founder of Lowercase Capital, was an early investor in Uber, Twitter, and Instagram. He shifted his focus from
The billionaire's latest comments were prompted by Mark Cuban, his former "
Sacca was an early investor in bitcoin, and has been bullish on its prospects for years. "Bought bitcoin at $800," he said in March 2014. The
He predicted it would become "institutionally mainstream" in 2017. However, he described it as an "environmental disaster" in 2013 and again in 2017.
The surging energy costs of bitcoin mining are a hot-button issue in the crypto space. Tesla CEO Elon Musk reignited the debate last week when he said his electric-car company would no longer accept bitcoin for vehicle purchases, citing environmental reasons.
"I strongly believe in crypto, but it can't drive a massive increase in fossil fuel use, especially coal," he said.
- Elizabeth Holmes ordered dinners for Theranos staff but made sure they weren't delivered until after 8 p.m. so they worked late: book
- My twin and I were in separate classrooms in school. Our joint math lesson made me realize how silly that was.
- 2,000 years before 'manscaping' and smooth armpits, the Romans were seriously into hair removal, archaeological findings show
- Crude oil prices may hit $100/bbl after OPEC+ decision, say analysts
- Gufi Paintal, who played the ‘Shakuni Mama’ role in Mahabharat, dies at 79
- Sakshi Malik withdraws from wrestlers' protest, rejoins her posting in Northern Railway
- Here’s how urban and rural India is spending every ₹100 they earn
- ChatGPT iOS app vs website — The better experience and why