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I think a lot of people realize Bitcoin consumes a lot of energy without necessarily realizing the extent to which the energy consumption correlates with the pr
by NickM 5y ago
I think a lot of people realize Bitcoin consumes a lot of energy without necessarily realizing the extent to which the energy consumption correlates with the price of BTC. After pushing up the price of BTC with a $1.5B purchase and a bunch of tweets, it might have been a bit of a wake-up call to then subsequently see the electricity usage of the network immediately start to skyrocket (he did recently tweet a link to cbeci.org).
He really should have known better, but all that said it's not hard to imagine how this could've played out behind the scenes. He's previously mentioned having trusted friends who convinced him of the value of crypto, and he may have genuinely believed that it would drive growth of renewables long-term, but then changed his views as he became more aware of the damage this is causing in the here and now.