Bitcoin Can Help Save The Planet

Recently, I was talking with a friend who works in ESG investing. For those unfamiliar with the acronym, ESG stands for “environmental, social and governance”. As the name implies, the purpose of ESG is to evaluate investments by their environmental sustainability and societal impact. He had mentioned that institutional clients of his were becoming increasingly interested in Bitcoin as a potential investment, but they were concerned with the negative environmental impact from its high energy consumption. This is certainly a valid point because, frankly, Bitcoin consumes a lot of energy. As an individual who believes in climate change and the need for society to take action, I can understand why people form a negative opinion towards Bitcoin when they see a headline that says ‘Bitcoin consumes more electricity than Argentina‘. This may be true at face value but the point it’s trying to convey is somewhat misleading. The situation is far more nuanced than the