Indeed, both translations are possible, and the meaning is basically the same. If each individual part of the Scriptures is inspired, then its totality is inspired also. The Connection Between Inspiration and Scripture. The first one may give the idea that some parts of the Scriptures are not inspired by God, while the second states that all of Scripture is inspired by God. The argument is based on technicalities related to the Greek word order.
Most scholars believe that the word order supports the second translation.
More important is the context. It suggests that the apostle has no interest at all in introducing a distinction between what is inspired by God in the Bible and what is not. Such a distinction is foreign to the New Testament, and this verse denies its validity. The Meaning of Inspiration. That same divine power brought the Scriptures into existence.