MicroStrategy’s Michael Saylor has been an advocate for Bitcoin for a really long time now.
His company has been buying BTC like crazy despite the massive volatility in the crypto market.
Bitcoin energy is cleaner compared to other industries
Saylor addressed Bitcoin energy usage. Check out the relevant tweet he shared.
#Bitcoin energy usage is cleaner than every major industry and represents a rounding error in total energy consumption. @FriarHass delivers a comprehensive analysis worth reading.https://t.co/9RSH8t5Z1U
— Michael Saylor⚡️ (@michael_saylor) August 11, 2021
Bitcoin magazine notes the following: “The data shows Bitcoin’s energy use would represent just a rounding error in the construction, transportation or healthcare industries.”
The same online publication continues and notes, “For context, at time of writing, the Cambridge Bitcoin Energy Consumption Index (CBECI) estimates Bitcoin’s annual energy use at 79 terawatt hours (TWh).”
Check out some relevant graphs in this direction.
The energy used by Bitcoin has been a stringent subject for a long time, and this has also been used by Elon Musk not too long ago to manipulate the market.
Someone commented: “Or… Maybe, just maybe, we could all support proof of stake which has basically ZERO energy consumption? $hex will flip $BTC in the next year, you bought the top last time Michael, don’t get left behind again you big billionaire you.”
Bitcoin stays above $46k
The market looks great today, with all major coins trading in the green. At the moment of writing this article, BTC is also trading in the green, and the king coin is priced at $46,137.89.
It’s been just reported that blockchain analytics firm Santiment said that Bitcoin (BTC) whales aren’t showing interest in taking profits as BTC continues to build strength.
The firm said that Bitcoin entities holding between 100 and 10,000 BTC now hold 9.28 million coins, or about 44% of the total supply, which is an all-time high for the investor cohort.