Bill Gates has long been a critic of bitcoin. According to the former head of Microsoft, bitcoin is too volatile and too unstable, and can also lead to significant losses. Also, according to the billionaire, “If you do not have as much money as Musk, then you should not deal with bitcoin”. However, the problem for the whole world is not only that bitcoin is excessively volatile or used in illegal and criminal operations. The problem is that one transaction on the bitcoin network consumes more electricity than any other transaction. Electricity doesn’t come from anywhere. Thus, the huge consumption of electricity by miners is a huge emission of CO2 into the atmosphere. Of course, if we are talking about the so-called “green energy”, then there are no questions. But not all power plants in the world use renewable sources of electricity. But bitcoin is already being mined everywhere. Thus, according to research, only 39% of bitcoins were mined with the help of “green energy”, that is, without harm to the environment. Scientists have already calculated several times that the amount of carbon dioxide that is released into the atmosphere during the production and transfer of bitcoins is equivalent to the whole of Argentina. That is the whole country. It was also estimated that one bitcoin transaction is equal to the number of emissions of 750 thousand transactions in the Visa payment system. Thus, it is not only Bill Gates who opposes bitcoin. Many scientists also regularly draw attention to the fact that the “cue ball” is extremely harmful to the environment. “If this is green energy, then mining the first cryptocurrency may be acceptable,” Gates said.

At the same time, Microstrategy invested another $ 15 million in bitcoin. Thus, the total amount of BTC that the company now owns is 91,236 coins. Earlier, the company raised more than a billion dollars by issuing and placing securities among investors to invest in bitcoin. The total investment in BTC is already more than $ 2 billion. The company’s shares have almost halved since February 9, 2021, but have recently shown a tendency to recover. Bitcoin itself has already grown to $ 61,000 per coin and at the moment, in any case, has brought Microstrategy and Tesla profit. The main thing is that now there will not be a collapse in quotes, as in 2017-2018. However, most experts are already inclined to believe that such a strong collapse will not happen, since interest among institutional traders in bitcoin is growing, and institutional investors are much more stable and calm owners of bitcoin than “hamsters” who try to sell the asset as soon as there is a minimal drop in quotes.

The material has been provided by InstaForex Company –

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