Bitcoin Energy Concerns Unlikely to Crash Its Long-Term Path, Cathie Wood Says

Bitcoin Energy Concerns Unlikely to Crash Its Long-Term Path, Cathie Wood Says
фото показано с : zycrypto.com

2021-7-15 15:32

Cathie Wood, the founder, and CEO of Ark Invest has tossed her viewpoint over Bitcoin’s mining energy consumption, citing it as a minor setback to the asset’s path in the future. She further stated that although the energy problem is a major concern, it is temporary.

“It’s healthier to disperse that mining, and a lot of that is coming toward the U.S. using renewables,” she said.

BTCUSD Chart By TradingView

Speaking to CNBC, although she acknowledged China’s crackdown on crypto miners and traders played a significant role in dwindling Bitcoin’s price, she hinted at remaining bullish in the belief that Bitcoin’s price would make an extraordinary comeback soon.

Earlier last month, Elon Musk revealed Tesla would resume accepting payments in Bitcoin once green energy usage by miners reaches 50%. Although this remark was taken as a major trigger to Bitcoin descent, it hints that there is an expectation to reduce BTC’s energy consumption.

During the interview, Cathie re-asserted her confidence in the future growth of Bitcoin as more serious institutions and investors with had great and determined leaders had already invested in the asset.

Her energy consumption sentiments come amidst this week’s ongoing unlocking of GBTC shares with Ark Invest being a key investor in the Grayscale bitcoin program.

The investment company currently holds a 1.25% stake with ownership of 8,685,452 shares which translates to $258,913,324, making it the largest shareholder according to an investor sheet provided by CNN business.

J.PMorgan had earlier predicted that the ongoing unlocking of GBTC shares could see institutional investors pull out their investments pushing Bitcoin’s valuation lower.

During the unlocking, FNY Investment, an institution currently holding some GBTC shares has reportedly reduced its holding by selling off some of its shares from 2,600- 750 shares while increasing its position in Grayscale’s Ethereum Classic Trust from 0 to 20 as per the latest 13F SEC filing report.

Cathie’s energy remarks leave investors guessing if Ark Invest and other investors will take a turn in selling its GBTC shares as predicted by JPMorgan which believes that investors would be willing to buy back at $23,000 as BTC’s “fair price”.

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Источник: zycrypto.com

energy bitcoin → Результатов: 126


Bitcoin Energy Consumption Exaggerated says Energy Researcher

In Jan 2018, an independent article was published online which shows the different energy consumptions associated with Bitcoin mining with regards to different destinations. From the published article, it was seen that bitcoin miners in Venezuela will maximize cost as it was the country with the cheapest energy consumption for bitcoin mining, which stood below […] The post Bitcoin Energy Consumption Exaggerated says Energy Researcher appeared first on ZyCrypto.

2018-8-21 16:43


Фото:

Bitcoin Energy Consumption Could Drive Innovation, Says Research Associate

Bitcoin (BTC)–By now, most within and outside of the industry of cryptocurrency are familiar with the narrative surrounding Bitcoin energy usage. The argument goes that as Bitcoin becomes a more popular choice in terms of digital currency, the increase of miners looking to capitalize on transaction fees and reward payouts will increase, thereby also raising […] The post Bitcoin Energy Consumption Could Drive Innovation, Says Research Associate appeared first on Ethereum World News.

2018-8-21 04:14


Research Associate: Conversations Around Bitcoin and Energy Have Been Oversimplified

In the almost decade long existence of Bitcoin, the network has repeatedly come under fire for the large amount of electricity required to secure it. However, one researcher believes that the current discussion on energy use is largely redundant since it doesn’t take into account how the electricity itself is sourced or how technology evolves.

2018-8-20 22:30


Фото:

South Korea Blockchain Industry Blooming – Swytch Announces Partnership to Expand Possibilities for Renewable Energies

South Korean city Chuncheon has joined with Swytch in a partnership to expand and accelerate the city’s use of renewable energy. In a move that mirrors other government investments in the blockchain, the agreement between the city and Swytch will see the two organizations examining how to use Swytch technology to make more citizens benefit […] South Korea Blockchain Industry Blooming – Swytch Announces Partnership to Expand Possibilities for Renewable Energies was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-8-20 13:59


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