How Bitcoin Mining Can Incentivize Renewable Energy
Bitcoin mining is often decried as an energy hog, but new research results by Cathie Wood's ARK Invest and Jack Dorsey's Square have been found to "debunk the myth." Tesla's Elon Musk also agrees that it could actually be good for the planet. Marco Streng, CEO and co-founder at Genesis Digital Assets, says because renewable energy is among the most economically friendly, miners will lean towards that power source, thus contributing to the renewables industry in the long term. Streng speaks to Emily Chang on "Bloomberg Technology."
The segment aired on April 23, 2021.