2 points questioning and highlighting the lack of fundamentals in this market and in ESG rating methodology.
- Tesla made more profit after its $1.5bn bets in Bitcoin than all car sales in its history…
- Interesting to hear the outstanding silence of ESG analysts after this investment while you consider the electricity consumption to maintain and mine Bitcoin.If Bitcoin were a country, it would be in the top 30 energy users worldwide, consuming more electricity than Argentina. That’s according to analysis by Cambridge University’s online tool, which showed that the virtual coin uses around 121.36 terawatt-hours (TWh) per year.
This is above Argentina, which is at 121 TWh, the Netherlands, which consumes 108.8 TWh, and the United Arab Emirates (113.20 TWh). Bitcoin is also gradually creeping up on Norway, which stands at 122.20 TWh.
In addition, interesting to read how the FED will react after the will of Tesla to accept Bitcoin as currency to buy its cars…