July 25, 2021

Opinion: Bitcoin is greener than petrodollar

Opinion: Bitcoin is greener than petrodollar

In the new episode of the Unchained podcast, Alex Gladstein, director of strategy at the Human Rights Foundation, and James McGinniss, CEO and co-founder of David Energy, said the US petrodollar is more environmentally hazardous than Bitcoin mining.

The guests discussed Bitcoin, the dollar and how the first cryptocurrency (BTC) uses energy compared to the leading fiat currency (USD).

The petroleum dollar is the US dollar payableoil exporter for a resource. Backed by US military might, it threatens the environment far more than bitcoin. In 2017 alone, the US Army used up to 1 million barrels of oil daily, leaving a huge carbon footprint.

Gladshtein believes that bitcoin is a real competitor to the petrodollar, and its energy intensity is "a feature, not a mistake" that "creates security."

In addition, bitcoin has a social value that allows 1.2 billion people to survive in conditions of hyperinflation and authoritarianism.

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