2024-01-18 06:14:40
One of the most well-known environmental organizations in the world, the US approval of Bitcoin spot ETF products was recently severely criticized by Greenpeace. The group said the approval represents a “watershed moment” for the financial services sector. According to them, they accepted the issue of environmental pollution by Bitcoin.
Greenpeace attacks Bitcoin again in relation to Bitcoin spot ETFs
The organization believes that after the approval of Blackrock, Fidelity and other financial companies for the Bitcoin ETF product, these companies should take an active role in solving carbon emission problems. Director of National Campaigns, Rolf Skar according to approval by the US Securities and Exchange Commission makes it easier to trade and invest in bitcoin. Which is worrisome given the role of cryptocurrency in pollution issues. According to Skar, as the demand for BTC increases even more, more and more miners will enter Bitcoin mining in order to gain access to the ever-increasing value of the reward.
Of course, this point of view ignores the fact that Bitcoin can help solve a lot of pollution problems. We have already written about the solution options for problems related to water management. But the utilization of unnecessarily burned energy is also considered such a factor. Regardless, according to the Greenpeace director, the energy used to carry out mining activity is still predominantly produced from fossil fuels. Which leads to higher carbon dioxide emissions and water use. By the way, their point of view has been known for a long time. This is also an aspect of Bitcoin and the crypto sector that still needs to be worked on. Because such organizations also need to be convinced of the benefits and opportunities provided by Bitcoin.
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