Billions of dollars worldwide are in high demand for Bitcoin (BTC). A recent analysis by European Investment Director Nickel Digital Asset Management showed that the 20 companies listed above have a market value of more than $ 1 million in BTC. Individual investors are also interested in assets.

A third-year search for Bitcoin investors by Grayscale found that Bitcoin demand has risen sharply. According to the survey, 55% of Bitcoin investors have started buying property in the last 12 months. Grayscale reports that for those interested in Bitcoin investment products, the market will grow by 59% by 2021, by 55% in 2020 and by one-third in 2019.

However, the global Bitcoin party is likely to grow, with environmental concerns becoming clearer than ever. A Grayscale study, for example, found that 30% of investors are concerned about the negative impact of Bitcoin on the environment. It is interesting to note that this idea only emerged in 2021.

Model for calculating carbon dioxide
In view of the increasing pain of Bitcoin’s carbon footprint, new approaches have been developed for investors and businesses to better understand the duration of the BTC approach. For example, the Frankfurt Blockfain School and its digital asset manager published a study on November 16 showing a new way to block CO2 emissions from the Bitcoin network. This process has developed two things: the action-based method and the owner-based method.

In an interview with Cointelegraph, Professor Frank Sandner of the Frankfurt School of Technology said that asset managers and investors are concerned about Bitcoin’s environmental, social and management (ESG) footprint. Sandner therefore explained that he wanted to create a form that would help active managers, mining companies, and individuals to calculate the BTC CO2 footprint:

“Normally, we get a lot of CO2 compensation for Bitcoin mining companies, but you still have ETF providers, companies and data exchanges. he said. . ”
According to Sandner, the original purpose of the research was to calculate the global Bitcoin energy consumption from September 1, 2020 to August 31, 2021. The results show that 0.08% of CO2 equivalent to CO2 comes from Bitcoin. Based on that figure, Sandner said 37.97 million metric tons of CO2 was needed to support the global Bitcoin network.

Research has shown that investors can use Bitcoin transactions related to Bitcoin growth at a certain time, or to a certain extent, to calculate Bitcoin footprints by investors. According to the document, the average Bitcoin per Bitcoin line is 670 bytes, which is equivalent to 362.49 feet of CO2. Sandner explained:

“These CO2 emissions can be paid for by a certificate issued by the European Chamber of Commerce. A certificate for each ton of CO2 is $ 50 and a BTC fee of $ 18. would consume gas.
Benjamin Jaub, INTAS Senior Adviser. “What makes this model so powerful is that all the necessary information is made public. It’s not an idea, it’s a way for companies to work with the Bitcoin network.”

He added that German retailer Iconic Holding GmbH was using the approach to ensure stability. I hope that the best players on the air next year will pay more attention to this issue. ”

While it is difficult to predict the future, it is clear that the Exchange and Information Exchange (ETF) have begun to use a similar approach to close the Bitcoin footprint.

Source: CoinTelegraph