Baxia Markets
September 18, 2021

Bitcoin slides as the environmental concern back on the table

fundamental analysis top header -01


Much has been written about the ecological impact of cryptocurrencies like bitcoin and ethereum from a pure electricity standpoint, but less has been written on the impact of the sheer volume of e-waste generated by the entire crypto enterprise. And there's a lot of it. Bitcoin's rising e-waste problem (via The Guardian), a study conducted by economists from the Dutch central bank and MIT, projects that "bitcoin's e-waste... amounts to 30.7 metric kilotons yearly, as of May 2021." This figure is comparable to the quantity of small IT and telecommunications equipment discarded in the Netherlands.”




Thousands of demonstrators flocked to the streets in El Salvador a week after it became the first country in the world to accept bitcoin as a legal tender alongside the US dollar. According to accounts, some protestors in El Salvador's capital, San Salvador, were peaceful, but some damaged and set fire to at least one bitcoin ATM on Wednesday. Some protesters wore anti-bitcoin t-shirts and sprayed anti-bitcoin graffiti along the demonstration routes. Others had bitcoin logos crossed out on their signs.



We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

Subscribe by Email