The American arm of Greenpeace, a non-governmental multinational environmental group, has stopped accepting donations in Bitcoin (BTC) amid rising considerations in regards to the crypto’s affect on the world’s ecology, it advised Financial Times yesterday.
“As the quantity of power wanted to run Bitcoin turned clearer, this coverage turned now not tenable,” mentioned a spokesperson for Greenpeace USA.
The group first started accepting Bitcoin donations back in 2014 via payments processor BitPay. At press time, the corresponding page equally states that Greenpeace is now not accepting BTC—or any different crypto.
“Greenpeace USA now not accepts donations within the type of Bitcoin or any cryptocurrency,” says the donation web page on BitPay.
Notably, the initial announcement of Greenpeace supporting Bitcoin donations has additionally been scrapped from the group’s web site.
“As a very unbiased group, we don’t take cash from companies or governments and rely totally on particular person donations,” mentioned Ben Kroetz, Greenpeace USA director of on-line technique, within the 2014 announcement. “BitPay’s fame as a trusted and safe third occasion Bitcoin cost processor made it straightforward for us to start accepting Bitcoin thus opening us as much as new markets and donors.”
“Bitcoin ought to die”
However plainly these days, environmental considerations have been outweighing the advantages of publicity to new markets and donors. Larisa Yarovaya, a lecturer at Southampton College and a former Russian Paralympic swimmer, even went so far as suggesting that Bitcoin “ought to die for the widespread good.”
“Bitcoin might be the primary inefficient model of a disruptive know-how. It ought to die for the widespread good of the planet and get replaced by a brand new mannequin. It consumes extra electrical energy than a rustic. All the remaining is element,” Yarovaya advised Monetary Instances.
She additional argued that Bitcoin’s power consumption can’t be justified even by the coin’s excessive value since BTC is a speculative asset that doesn’t “create a considerable quantity of employment” neither is it broadly used for transactions.
In the meantime, Tesla and SpaceX CEO Elon Musk, who was one of the vital well-known proponents of crypto, has additionally been elevating considerations about Bitcoin’s environmental affect lately.
To be clear, I strongly imagine in crypto, however it could possibly’t drive a large enhance in fossil gas use, particularly coal
— Elon Musk (@elonmusk) May 13, 2021
Tesla additionally stopped accepting Bitcoin payments for its automobiles—after introducing the choice simply a few months earlier.
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