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3 Reasons Why Bitcoin Is Actually Good for Renewable Energy
Bitcoin has gotten a lot of hate recently because of its energy consumption and carbon footprint, but-quite counterintuitively-it might be the missing piece to a cleaner future.
In early 2021, some prominent people have spoken out against Bitcoin stoking fears and causing crypto markets to tumble. In February, Bill Gates said in an interview with Andrew Sorkin that “Bitcoin uses more electricity per transaction than any other method known to mankind, and so it’s not a great climate thing.” And Elon Musk said in May “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
Not only are both statements misleading (upwards of 75% of Bitcoin mining is fueled by renewable energy at the time of this writing), they demonstrate that Gates and Musk might be behind the curve when it comes to crypto. New and counterintuitive ideas are emerging that…
