Bitcoin crashed, then rose like a phoenix, and Bill Gates said that cryptocurrencies are harmful to nature

Bitcoin crashed, then rose like a phoenix, and Bill Gates said that cryptocurrencies are harmful to nature


MarketBusiness

Olga Blinkova | 02/23/2021

Bitcoin crashed, then rose like a phoenix, and Bill Gates said that cryptocurrencies are harmful to nature

The bitcoin rate on Monday swooped down, having lost about $ 10,000 at a stroke, but almost immediately went up again, stopping at $ 54,000. The reason for the fall was the words of the head of the US Treasury that
that Bitcoin is a highly speculative asset. It was also said that bitcoin is a highly inefficient way to conduct transactions, and the amount of energy consumed in processing these
transactions are staggeringly large.

By the way, Microsoft founder Bill Gates noted some time ago that he treats cryptocurrencies neutrally, but this is an invention the world could do without. Among the main disadvantages
bitcoins, Mr. Gates noted the connection with criminal activity. It also takes a huge amount of electricity to mine bitcoins, which could serve people. In addition, Bill Gates
noted that there is nothing real behind Bitcoin, no product or production. Currently, the fortune of Bill Gates, according to Forbes, is estimated at $ 124 billion.

At the beginning of February, scientists at Cambridge University calculated that more electricity is already being spent on bitcoin mining than the whole country of Argentina uses, and a little less of Norway and Ukraine. IN
In total, 121.36 TWh is spent on bitcoin mining per year. It is noted that those who invest in bitcoin underestimate the impact of this cryptocurrency on the environment.

At the same time, scientists note that if you turn off all inactive, but enabled devices in the United States, then bitcoin can be mined just within a year.

Some experts emphasize that the fact that Elon Musk bought bitcoins at Tesla for $ 1.5 billion multiplied by zero the effect of his electric vehicles that do not produce carbon dioxide. Moreover,
Tesla has received financial support from the US government for its contribution to the fight against greenhouse gas emissions. That’s right, just $ 1.5 billion.

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