Energy Analyst Says Bitcoin is no Longer Tied to Emissions
- A climate change venture capitalist says that Bitcoin’s recent success is independent of emissions.
- Bitcoin has broken away from tethering, unlike the current fiat system, according to Daniel Batten.
- The Bitcoin emission intensity trend has been falling since the ban in China.
Daniel Batten, a climate change venture capitalist and energy analyst, said that Bitcoin’s success is independent of emissions. In a Twitter thread, Batten analyzed the development of Bitcoin prices over the past few years, comparing it with the emissions associated with the cryptocurrency.
Batten’s analysis showed that Bitcoin has broken away from tethering, something he says the current fiat system cannot manage. According to him, there is a correlation between the current fiat system and the GDP. GDP increases with increased emissions in the current financial system, a pattern from which Bitcoin has broken away.
Batten presented his argument using different energy charts that are related to Bitcoin. The Bitcoin Sustainable Energy chart reflected a 6.2% growth rate since 2020. This rate is faster than that of any other big industry. Bitcoin’s sustainable mix grew by 52.6%, cl…
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