The Bitcoin Green Revolution - Is Cathie Wood Right About The Environmental Impact of Bitcoin?

i probably don't need to tell anyone in my audience what bitcoin is or explain much about blockchain technology i recently posted an investing survey and more of my audience than i expected are cryptocurrency investors not surprising perhaps as bitcoin is rallied from around seven thousand dollars last year to around fifty thousand dollars today a seven fold increase in one year a move like that does tend to draw some attention even if you have no interest in bitcoin you may have heard that bitcoin mining is energy intensive and therefore not good for the environment you might even have heard that bitcoin mining currently uses more energy than the entire nation of sweden at a time when we're told that we desperately need to cut back carbon emissions many are asking if it makes sense to devote a sweden's worth of energy to a new form of currency i should be clear though that not everyone agrees that bitcoin mining and blockchain technology are bad for the environment some of the people reaching for a new green future including elon musk kathy wood and jack dorsey are also cryptocurrency enthusiasts and this has confused some of their environmentalist followers a month ago when elon musk tweeted that you can now buy tesla's using bitcoin people replied to his tweet with why not cut out the middleman and install a petrol engine in the thing well a few days ago the people at square jack dorsey's fintech company and arc invest kathy woods techfin company released a paper entitled bitcoin is key to an abundant clean energy future attempting to make the green case for cryptocurrencies i'll put a link to their paper in the description so that you can read the whole thing along with the paper archinvest published their open source model or excel spreadsheet showing how their green case for crypto works the paper has two clearly defined sections with the two separate firms square and arc invests branding attached to each section it's pretty clear when you read it that not only was it written by two different groups but that the two different groups didn't necessarily read each other's sections given the extent to which the two sections conflict with each other as a bit of a spoiler the arc open source model or spreadsheet is almost as good as the one that ...