Are bitcoinâs ESG credentials impacting its popularity? By Jamie Gordon, 5 May 2021
How bitcoin stacks up from an ESG perspective is becoming an increasing concern for investors after a coal mine shutdown in Xinjiang shone a light on the cryptocurrencyâs operations.
News of the coalmineâs two-day shutdown sent the price of bitcoin tumbling 23% as the digital assetâs global computing power was cut by a third.
Analysis by CoinShares noted flows into digital assets in the week ending 23 April slowed to their lowest level since October 2020 as bitcoin mining issues in Xinjiang saw assets under management (AUM) drop $10bn, down to $54bn.Â
Elon Musk s Bitcoin Investment Supports Energy Waste, Some Critics Say
On 2/8/21 at 4:21 PM EST
Seemingly everything Elon Musk does makes headlines, and the release of his company s annual business report on Monday was no exception. Among other findings in the report was the significant reveal that Tesla purchased $1.5 billion worth of Bitcoin. While this information has caused stocks for the cryptocurrency to soar, it has also raised the ire of people concerned with energy conservation, who are pointing to studies that show the tremendous amount of energy that s used by Bitcoin.
A visual representation of the digital cryptocurrency, Bitcoin.
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