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According to a recent survey, only a mere 55% believe that a Bitcoin ban is not the answer to fixing climate change. The flagship cryptocurrency hit an all-time high price of nearly $65,000 in April but then plunged to as low as $29,000 in July. Institutional adoption including the launch of the first bitcoin ETF in the USA has likely driven it back to a new all-time high of over $67,000.
55% of Britons Believe Bitcoin Ban won't Make the Planet Greener
A recent survey has revealed that a majority of Britons don’t support a Bitcoin ban due to environmental reasons with the elderly supporting a majority of it.
According to recent reports, Bitcoin mining accounts for 0.46% of the entire world’s electricity consumption, which is more than what the country of the Philippines consumes per year.
Despite this, 55% of the U.K. residents believe that banning the flagship cryptocurrency will not make the planet greener with the report revealing that the percentage varies within the different age groups.
Younger population under 24 years accounting for 21% will support authorities if they implemented a total bitcoin while 64% of the elderly people above 65 years old would say “yes” to that idea. Men were more likely to oppose such a ban than females probably due to men being more involved in the digital asset space than females.
British Columbia Employs Greener BTC Mining
Meanwhile, the authorities of the Canadian town North Vancouver, a part of the district of British Columbia have decided to employ the released energy into heating residential and commercial buildings.
The initiative should go live in 2022 after a partnership between the cryptocurrency miner MintGreen and the Lonsdale Energy Corporation (LEC). During its engagement, the latter asserted that its “Digital Boilers” will prevent 20,000 tonnes of GHGs from entering the atmosphere per MW compared to natural gas. If successful, North Vancouver will become the first city that employs BTC mining in this way.