{"id":45731,"date":"2021-07-08T11:43:34","date_gmt":"2021-07-08T08:43:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=45731"},"modified":"2025-09-01T12:38:16","modified_gmt":"2025-09-01T09:38:16","slug":"anthony-scaramucci-chinas-bitcoin-mining-ban-is-a-positive-development","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/anthony-scaramucci-chinas-bitcoin-mining-ban-is-a-positive-development\/","title":{"rendered":"Anthony Scaramucci: China\u2019s Bitcoin-mining ban is a positive development"},"content":{"rendered":"<p>In the long run, Bitcoin will benefit from China\u2019s ban on mining. This view was voiced by Anthony Scaramucci, founder and managing partner of SkyBridge Capital, in an interview with CNBC.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\u00abChina getting out of the way, I think will be a long term positive for <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a>,\u00bb says <a href=\"https:\/\/twitter.com\/Scaramucci?ref_src=twsrc%5Etfw\">@Scaramucci<\/a> on <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>. <a href=\"https:\/\/t.co\/ypP14XIYY3\">pic.twitter.com\/ypP14XIYY3<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1412742629893328897?ref_src=twsrc%5Etfw\">July 7, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cChina getting out of the way, I think will be a long-term positive for Bitcoin,\u201d he said.<\/p>\n<\/blockquote>\n<p>Scaramucci acknowledged that Chinese authorities\u2019 measures toward the industry have made the cryptocurrency highly volatile and contributed to a drop from its previously reached <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-clears-64000-as-ethereum-climbs-above-2350\">price peak<\/a>.<\/p>\n<p>Nevertheless, in the longer term, China\u2019s rejection of fossil-fuel mining will help address Bitcoin\u2019s environmental problem, he believes.<\/p>\n<p>The founder of SkyBridge Capital cited data showing that the share of \u201cgreen\u201d energy in the industry had reached 56%. To this conclusion <a href=\"https:\/\/forklog.com\/en\/news\/study-finds-56-share-of-green-energy-in-bitcoin-mining-industry\">came<\/a> the <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-has-no-place-among-the-green-bitcoin-miners\">Bitcoin Mining Council<\/a>, a North American miners&#8217; organization, in its first report. Experts <a href=\"https:\/\/forklog.com\/en\/news\/crypto-community-criticises-study-on-green-energy-share-in-bitcoin-mining\">questioned<\/a> the objectivity of the study.<\/p>\n<p>Scaramucci is confident that this figure will rise as Bitcoin is adopted by countries such as El Salvador and as inflows of investment from Wall Street come in.<\/p>\n<p>As reported, following the <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-passes-bill-recognizing-bitcoin-as-legal-tender\">recognition<\/a> of the first cryptocurrency as an official means of payment in El Salvador, <a href=\"https:\/\/forklog.com\/en\/news\/el-salvadors-president-proposes-bitcoin-mining-powered-by-volcanic-energy\">decided to develop mining<\/a> using volcano-powered clean energy.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the long run, Bitcoin will benefit from China\u2019s ban on mining. This view was voiced by Anthony Scaramucci, founder and managing partner of SkyBridge Capital, in an interview with CNBC.<\/p>\n","protected":false},"author":1,"featured_media":45732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1254,1137,1138],"class_list":["post-45731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-anthony-scaramucci","tag-cryptocurrency-mining","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/45731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=45731"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/45731\/revisions"}],"predecessor-version":[{"id":45733,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/45731\/revisions\/45733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/45732"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=45731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=45731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=45731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}