With the values of cryptocurrencies increasing, they appear to be a solid investment for anyone who wants to make money. While the volatility of the market was once a concern, the fact that the likes of Elon Musk and Tesla are propping it up is a huge help. Cryptocurrencies have never appeared so profitable.
However, this doesn’t mean you should pump money into virtual currencies. After all, there are other concerns to address beforehand. Did you know that Bitcoin has a high carbon footprint, for example? Most investors don’t as they assume Bitcoin and its fellow competitors are CO2 neutral.
The truth is that we are only just getting a picture of the impact of the cryptocurrency market on the environment, and it doesn’t look good. The fact that Bitcoin consumes a similar amount of electricity as the whole of the Netherlands, and more than Chile and Tajikistan, is a warning sign.
Some investors might not care about the effects of mining. As long as the ROI is healthy, then that’s all that matters. But, if you’re someone who is trying to be a sustainable investor, it’s essential to get to grips with the side-effects of Bitcoin and other cryptocurrencies since the consequences might make you think twice before you sign on the dotted line.
If you’re interested in learning more about Bitcoin’s CO2 footprint and what it means for the planet, you should check out the infographic that follows. It explains just how bad for the environment Bitcoin is, and uses stark statistics to open your eyes.
designed by ARBTECH