The Microstrategy executive Michael Saylor is a big believer in Bitcoin as his company has purchased close to 130,000 bitcoin during the last few years. Six days ago, U.S. Office of Science and Technology Policy released a report claiming that proof-of work mining operations had been negatively affecting climate change. According to the science and tech department, the Biden administration must take steps against the mining industry and establish regulations and standards for the sector. Following the report, Saylor published a letter addressed to journalists, investors, and regulators concerning the “sheer volume of misinformation [and] propaganda circulating lately.”
Microstrategy’s Executive Chairman Publishes a Blog Post That Discusses Bitcoin and the Environment
Microstrategy’s Michael Saylor published a tweet that leads to a recent blog post he wrote concerning Bitcoin and the environment. Saylor’s tweet included a link to his blog post. “Given the sheer amount of misinformation [and], propaganda circulating lately it was important to share the truth regarding Bitcoin Mining and the Environment.”
The editorial is called “Bitcoin Mining and the Environment” and it discusses topics such as “Bitcoin Energy Utilization,” “Bitcoin vs. Other Industries,” “Bitcoin Value Creation & Energy Intensity,” “Bitcoin vs. Other Cryptos,” “Bitcoin & Carbon Emissions,” “Bitcoin & Environmental Benefits,” and “Bitcoin & Global Energy.” Each topic shows how a number of environmental misconceptions about the Bitcoin network can be looked at in a different manner.
“Bitcoin is powered by stranded excess energy. This excess energy is generated in areas where there are no other consumers and when there is no demand for electricity. “Retail [and] commercial consumers of electricity in major population areas pay 5-10x more per kWh (10-20 cents per kWh) than bitcoin miners, who should be thought of as wholesale consumers of energy (normally budgeting 2-3 cents per kWh),” the Microstrategy executive’s editorial adds.
Saylor insists that the world consumes a lot more energy than it actually uses. Saylor claims that approximately a third of the energy used is wasted. “The last 15 basis points of energy power the entire Bitcoin Network – this is the least valued, cheapest margin of energy left after 99. 85% of the energy in the world is allocated to other uses.”
In the topic concerning “Bitcoin vs. Other Industries,” Saylor cites a Bitcoin Mining Council presentation. Microstrategy’s CEO also spoke about Bitcoin and the benefits it has for the environment. Saylor mentioned the CEO of Geneious and ESG analyst, Daniel Batten, who published a number of papers about the subject.
Bitcoin.com News reported Batten’s work in May. A particular study Batten did showed that bitcoin mining could eliminate 0. 15% of the world’s global warming by 2045. In the paper, he also claimed that Bitcoin could be used to eliminate all emissions.
“There’s a growing awareness that Bitcoin can be used to monetize methane gas and stranded natural gases. [Daniel Batten] has published some excellent papers about the topic of methane gas emissions curtailment. It is also clear that energy grids that rely on renewable power sources such as wind, solar, and hydro can sometimes be unreliable due to lack of sunlight or water. Saylor added:
“In this case, they need to be paired with a large electricity consumer like a bitcoin miner in order to develop grid resilience & finance the buildout of additional capacity necessary to responsibly power major industrial/population centers. The recent example of major Bitcoin energy curtailment on the ERCOT grid in Texas is an example of the benefits of bitcoin mining to sustainable power providers.”
The chairman of Microstrategy cites two references to the research of the Bitcoin Mining Council. Saylor also shares the macro environment research website casebitcoin.com. In closing, the Microstrategy executive thanks everyone for reading Saylor’s blog post. Microstrategy currently holds 129,698 BTC on its balance sheet, according to current bitcoin treasuries lists.
This story contains tags
Biden Administration, Bitcoin mining, bitcoin mining report, Carbon Credits, Carbon Emissions, Climate, climate change, CO2-eq emissions, crypto mining, Cryptocurrencies, Daniel Batten, data points, electricity usage, Energy Use, environment, environmental concerns, esg, ESG analyst, ESG BTC Mining, feasible, methane emissions, michael saylor, microstrategy, microstrategy bitcoin, Microstrategy executive chairman, Mining Industry, Mining pollution, PoW, PoW Mining, Proof of Work, Science and Tech Dep, studies, White house
What do you think about the Microstrategy executive chairman’s blog post about the Bitcoin network and the environment?
19. What do you think of the Microstrategy executive chairman’s blog post about Bitcoin network and environment?
Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.
Borroe Finance draws attention in presale as Ethereum and BNB investors seek new opportunities
Ethereum (ETH) and Binance Coin (BNB) are among the best altcoins in the crypto industry, and investors will always have them in their portfolios. Even though these tokens are currently bullish, they will probably not deliver a triple-digit ROI to investors in 2024. As a result, savvy investors turned to a fast-growing crypto token called Borroe…
Ethereum (ETH) and Binance Coin (BNB) are among the best altcoins in the crypto industry, and investors will always have them in their portfolios. Even though these tokens are currently bullish, they will probably not deliver a triple-digit ROI to investors in 2024.
As a result, savvy investors turned to a fast-growing crypto token called Borroe Finance ($ROE). Keep reading to see expert opinions and forecasts on these tokens.
Standard Chartered predicts a May Ethereum Spot ETFs approval
On January 30, analysts at Standard Chartered (one of the world’s leading financial institutions) predicted that the US SEC may approve Ethereum Spot ETFs by May 23. According to Geoff Kendrick (head of Digital Assets Research at SC), Ethereum will likely mirror BTC’s price movement in the weeks leading up to SEC’s approval for BTC Spot ETFs. Therefore, Kendrick predicts that ETH could trade for $4,000 before its approval.
Thanks to this positive Ethereum crypto news, ETH recorded a minor price surge in the last week of January. On January 24, ETH traded for $2,230. A week later, ETH gained 4.89% and sold for $2,336. According to crypto analysts, Ethereum may likely be one of the best crypto investments in 2024 due to landmark activities in the blockchain industry. BTC halving comes in April, and the resulting market volatility will likely push ETH to $3,200.
Binance Coin surges amid groundbreaking partnership
On January 27, Laika AI (one of the world’s best DeFi research platforms) announced a partnership with Binance Coin Greenfield. Binance Coin Greenfield is a sub-chain of the BNB chain built to provide a decentralized data storage system and thriving web3 data economy to the blockchain industry. In other news, Crypto Slam recently revealed that Binance Coin Chain NFT sales shot up by 688% in the last week of January.
Thanks to these favourable ecosystem developments, BNB went bullish in late January. On January 24, BNB traded for $292. Seven days later, BNB gained 4.84% and sold for $307. According to crypto experts, BNB is primed for a price surge in Q1 2024 because retail crypto traders will return to accumulate altcoins during BTC’s halving in April. Therefore, BNB will likely trade for $325 by March 2024.
Investors back $ROE, presale raises over $2.7M in four stages
Borroe Finance ($ROE) is the world’s first web3 blockchain invoice discounting NFT marketplace. As a decentralized fundraising marketplace, Borroe Finance allows web3 businesses to raise instant cash by minting future earnings into NFTs and selling them to supportive communities at discounted prices. To ensure the safety of the fundraising process, Borroe Finance incorporates AI-risk assessment and efficient payment solutions into its protocol.
$ROE’s fourth presale stage is ongoing, and the token is selling for $0.019. So far, $ROE has completed 85.7% of its current presale stage, and the platform has raised over $2.7 million. When all presale stages conclude, $ROE will surge to $0.040 and deliver a massive 110.5% ROI to early investors. Furthermore, experts believe $ROE will record quick market acceptance in 2024 and likely trade for $0.190 by the end of the year.
Share this article
Why experienced investors are turning to NuggetRush amidst the meme coin frenzy?
Shiba Inu burned billions of tokens in January. BONK could fall further amid growing competition from meme coin rivals. NuggetRush (NUGX) could become the most in-demand play-to-earn network after its 80% price increase. The price of SHIB is still struggling despite over 9 billion SHIB tokens being burned by Shiba Inu in January 2024. On…
- Shiba Inu burned billions of tokens in January.
- BONK could fall further amid growing competition from meme coin rivals.
- NuggetRush (NUGX) could become the most in-demand play-to-earn network after its 80% price increase.
The price of SHIB is still struggling despite over 9 billion SHIB tokens being burned by Shiba Inu in January 2024. On the other hand, competition from other meme coins could push BONK down in the market.
Now, investors see NuggetRush (NUGX) as a last hope to secure stable returns and gold rewards. The project has sold nearly 169 million tokens. Yet, can NUGX become a better investment than top altcoins like SHIB and BONK? Let’s hear from market experts.
NuggetRush: matching expectations with high-value gold rewards
Speculation in the NFT gaming industry is rising NuggetRush prepares to launch the first-ever blockchain mining game. While gamers are thrilled by the prospect of an immersive strategy-based game, investors and crypto enthusiasts are more excited about earning NFT rewards that can be traded for real gold.
NuggetRush players primarily aim to become the game’s best miners and sit atop its leaderboard. To achieve this, players will set off on their journey with only miners and equipment while upgrading them as they progress.
With better NFT characters and machinery, a player’s mining efficiency will increase, boosting their chances of completing quests and earning financial rewards.
As for wealth-building, NuggetRush (NUGX) offers staking and trading of NFT assets. Rare in-game rewards called RUSHGEMS can be swapped for real-world gold at the game’s P2P marketplace. On the other hand, NuggetRush (NUGX) players can earn up to 20% APY rewards by staking their NFT assets.
NuggetRush is now in the last phases of its presale, and investors have already swooped up over 168 million NUGX tokens. In that time, NUGX’s price has risen by 80%, moving from $0.010 in round one to $0.018 by round five of its presale.
Investors are already anticipating another 11.1% rise to $0.020 as NUGX is gearing up for its listing. Furthermore, it is showing strong signs of becoming one of the top DeFi projects.
Shiba Inu burns 9 billion tokens
Shiba Inu has kept its word of increasing the SHIB burn rate in 2024. Reports from ShibaScan show that Shiba Inu has burned over 9 billion tokens in January 2024. It comes amid the widespread bearishness that has suffocated the progress of many altcoins.
Shiba Inu (SHIB) has also succumbed to the bearish pressure. As of January 1, SHIB traded at $0.00001069. It fell by 10.9% to $0.000009516 on January 17. SHIB fell by 6.8% to $0.000008861 on January 25, before recovering by 3.8% to $0.0000092 by January 30.
Shiba Inu (SHIB) first unveiled its policy of increased token burns in late 2023, following the launch of Shibarium.
Furthermore, Shibarium’s network activity has risen since the end of 2023, increasing demand for Shiba Inu’s services. This could push Shiba Inu’s SHIB token up by 52.3% to $0.00001402. Analysts say Shiba Inu’s (SHIB) increased token burn rate could make it one of the top crypto coins.
BONK expects competition from meme coin rivals
BONK has enjoyed spectacular growth in the past few months. Yet, the network is gearing up for a possible downturn amid competition from community-driven meme coins. In late January 2024, meme coin investor sentiment rose for networks like Dogwifhat.
Despite the market-wide price drop-off, BONK remained very popular among many crypto users. It traded at $0.00001494 on January 1. BONK jumped by 19.5% to $0.00001202 on January 18 before falling by 6.3% to $0.00001126 on January 30.
BONK could rise further if the meme coin sector reaches its 2023 highs. The network has already upgraded its mobile wallet features to allow smooth and seamless trading of tokens. This could further boost BONK’s trading activity while pushing its price to $0.00001509.
For more information bout the NuggetRush presale, visit the NuggetRush Presale Website.
Share this article
Former Coinbase CTO Balaji Srinivasan: Bitcoin Is a ‘Political Revolution’
Balaji Srinivasan, venture capitalist and former CTO of Coinbase, has highlighted the real purpose of Bitcoin and its implications for geopolitical and financial issues. Srinivasan stated that Bitcoin at its core is a “political revolution,” because it challenges the centralized states’ business model, and the change brought by it will be fought by states who [……
Bitcoin2 years ago
Digital Currency Group wraps up $600 million debt capital raise
Bitcoin2 years ago
Where to buy Dogelon Mars after falling 15% on Thursday
Bitcoin2 years ago
Are you a Star Atlas fan?
Bitcoin2 years ago
MANA has risen 16%: Here’s where you can buy MANA Coin
Bitcoin2 years ago
Indian Government Answers Questions about Bitcoin Transactions, Karnataka Scam and Legality of Crypto Trading
NFT2 years ago
DRepublic launches a combined NFT platform, ‘MetaCore’ Using EIP-364
Ethereum2 years ago
Ethereum prices skyrocket but Ether Gas Fees surge, fueling costly transfers
Bitcoin2 years ago
Salvadoran Ecologist Claims Nayib Bukele’s Volcano-Powered Bitcoin Mine Will End in Environmental Disaster’