June 14, 2021

Bill Gates: "Bitcoin Consumes Too Much Electricity"

Bill Gates: "Bitcoin Consumes Too Much Electricity"

Microsoft founder Bill Gates is concerned about Bitcoin's negative environmental impact.

AT Speaking at the Clubhouse with CNBC reporter Andrew Sorkin, Gates noted:

Bitcoin uses more electricity to conduct a transaction than any other method known to mankind.

Researchers from Cambridge found that the electricity consumption to confirm transactions on the Bitcoin network exceeds that of all Argentina.

The billionaire believes renewablesenergies can help bitcoin reduce its negative impact on the environment. He also hinted that his foundation may be involved in creating its own digital currency.

There are other options for digital currency that our fund deals with ... These transactions are not anonymous, they are reversible, and the fees for them are so low that the poorest can use them.

The Microsoft co-founder also noted that he does not invest in bitcoin.

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