Greenpeace, a group that protects the environment, has spoken out against the recent approval of some new bitcoin investment products. They say it shows that the financial industry is supporting pollution caused by bitcoin. The organization thinks that Blackrock, Fidelity, and other financial companies who support a Bitcoin ETF should help fix its carbon emission problems.
Greenpeace wants companies that manage Bitcoin investments to help reduce the pollution caused by Bitcoin.
Greenpeace, a group that shows problems with the environment all over the world, didn’t agree with the decision to allow new bitcoin ETF products in the U. S The Securities and Exchange Commission (SEC) is a government agency that oversees and regulates the stock market and companies that sell stocks and bonds to the public. Rolf Skar from Greenpeace USA said that this change would make it simpler to invest in bitcoin, which they believe is harmful to the environment.
Making fun of many news stories, Skar said:
The Bitcoin ETFs getting approved is a big moment for the financial industry and it means they are supporting Bitcoin, which is bad for the environment. This makes it harder for us to reduce carbon emissions and avoid the worst effects of climate change.
Additionally, Skar said that this product will increase the price of bitcoin because more people will want to buy it. He said that when the price of bitcoin goes up, more people start mining it to get the rewards.
Skar said that most of the power used for these tasks comes from burning fossil fuels. This causes more carbon emissions and uses a lot of water. “The SEC approving a Bitcoin ETF is good for rich Wall Street bosses, but bad for the environment and people,” he said.
Greenpeace used to take bitcoin donations, but they stopped because it’s bad for the environment. They want to change how bitcoin works. This means changing how Bitcoin works so that it uses less energy to run and protect the network.