Bitcoin recently broke $60,000 for the first time, cementing its perch as the “big dog” of cryptocurrencies. It has been embraced by groups as disparate as politicians, NFL stars, and Tesla CEO Elon Musk.
And the fact that cryptocurrency is entirely digital makes it sound, in theory, as though it would be the greenest currency the world has ever seen. After all, unlike paper money, no trees have to be cut down to create Bitcoin.
But people and press have become increasingly concerned about whether Bitcoin eats up a tremendous amount of power.
The Guardian ran a video explainer on “Why Bitcoin is so bad for the planet.” Reuters recently criticized Elon Musk for advocating clean energy while also dumping $1.5 billion into “energy intensive” Bitcoin, speculating that it “could complicate the company’s zero-emissions ethos.” An op-ed in the Washington Post declares that “buying a Tesla with Bitcoin would be environmentally unfriendly.”
A recent Cambridge Universi
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