Skybridge Capital becomes latest firm to buy carbon credits for its Bitcoin holdings

Skybridge Capital, a global multi-asset investment firm that has filed for Bitcoin and Ether Exchange Traded Funds ETF, has partnered with Moss Earth to offset its carbon footprint generated from its Bitcoin holdings. 

The firm bought carbon credits to offset approximately 38,436 tons of carbon. The investment firm joins the growing league of crypto platforms that have bought carbon credits worth millions of dollars to ensure Bitcoin is a green investment.

Anthony Scaramucci, Founder and Managing Partner of SkyBridge said the step was intended to ensure ESG-focused investors don’t shy away from Bitcoin. He said:

“We project that bitcoin mining will be fully renewable by the end of the decade. In the interim, carbon offsets represent an effective way to green the bitcoin network and facilitate adoption by ESG-minded investors.”

MOSS is a credible name in the voluntary carbon offset market and was introduced to Skybridge by One River, another Bitcoin institutional fund. MOSS made use of a conservative formula to determine the amount of carbon footprint left by the investment firm. MOSS also called Skybridge’s carbon offset plan the largest ever carried out by an institutional investor.

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