Business
Will China’s great emissions wall crash the Bitcoin price?
The Bitcoin (CRYPTO: BTC) price is down 1.4% over the past 24 hours. However, it’s still almost doubled in value so far in 2021. One Bitcoin is currently worth US$58,017 (AU$75,347).
According to data from CoinDesk, US$61 billion worth of Bitcoin changed virtual hands over the last full day.
And therein lies a potential pin to deflate the Bitcoin price in a world that’s racing to decarbonise.
Bitcoin’s China problem
How do Bitcoin transaction volumes impact greenhouse gas emissions? And what’s all this about China?
I was hoping you’d ask.
First, if you’re not aware, Bitcoin uses something called the blockchain. Essentially, it runs by…
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