Cathie Wood’s ARK Says Bitcoin Mining Is Good for the Planet

Bloomberg2021-04-22

Bitcoin mining is often decried as a highly energy-intensive activity. But Cathie Wood’s ARK Investment Management LLC has done some new research that maintains it isn’t as environmentally damaging as...

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Comments

yinfatt
2021-04-22
yinfatt
Rebound soon maybe
AhJeck
2021-04-22
AhJeck
Gogogo.. Make the bitcoin soars...
seejy
2021-04-22
seejy
need to think more about that.
rayhky
2021-04-22
rayhky
Bitcoin. Can trust?
DanielHee
2021-04-22
DanielHee
Why is it good? So much energy consumption.
- Ola5528:
  Energy consumption of traditional financial space is even more. it is all about deep diving into the data instead of reading headlines only without the full picture
- keaty:
  good for her pocket
Adam922
2021-04-22
Adam922
Oh wow

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But Cathie Wood’s ARK Investment Management LLC has done some new research that maintains it isn’t as environmentally damaging as...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-22/cathie-wood-s-ark-says-bitcoin-mining-is-good-for-the-planet?srnd=markets-vp\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PYPL","symbol_name":"PayPal","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2021-04-22/cathie-wood-s-ark-says-bitcoin-mining-is-good-for-the-planet?srnd=markets-vp","article_id":"1183538956","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1183538956","pubTimestamp":1619080634,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Bitcoin mining is often decried as a highly energy-intensive activity. 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But Cathie Wood’s ARK Investment Management LLC has done some new research that maintains it isn’t as environmentally damaging as some claim.\nThe argument is that Bitcoin mining could encourage investment in solar energy systems, enabling renewables to fulfill a higher percentage of demand from the energy grid at a constant cost of electricity,according to a post from ARK research director Brett Winton, who credited Yassine Elmandjra and Sam Korus as co-authors. 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Citigroup Inc. recently said Bitcoin’s power consumption has jumped 66-fold since 2015, and BCA Research Inc. said environmental concerns were likely to erode the token’s value over time.\nARK has invested actively in cryptocurrency-related stocks, the latest being via purchases of Coinbase Global Inc. shares after it listed on the Nasdaq. And Wood said in a panel discussion that Bitcoin’s market value could go much higher than $1 trillion, a milestone it reached just recently. Square Inc., which Wood cited in a Twitter post as collaborating on the research, has been buying Bitcoin and says crypto is a growing part of its business through the use of its Cash App for Bitcoin transactions.\nCritics “assert that the computation required to secure Bitcoin, even if necessary, is environmentally damaging and ruining the planet,” the ARK research said. “We believe that the opposite is true: a world with Bitcoin is a world that, at equilibrium, generates more electricity from renewable carbon-free sources.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":376321862,"gmtCreate":1619091737956,"gmtModify":1704719483261,"author":{"id":"3568592803065563","authorId":"3568592803065563","name":"yinfatt","avatar":"https://static.tigerbbs.com/7a23c5020f38941c73ef9797c191ba65","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Rebound soon maybe&nbsp;","listText":"Rebound soon maybe&nbsp;","text":"Rebound soon maybe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376321862","repostId":1183538956,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":376303076,"gmtCreate":1619085860495,"gmtModify":1704719399044,"author":{"id":"3557404516966905","authorId":"3557404516966905","name":"AhJeck","avatar":"https://community-static.tradeup.com/news/7260110003a7eaa68a8a67f04bd6ee81","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":5,"crmLevelSwitch":1},"htmlText":"Gogogo.. Make the bitcoin soars...&nbsp;","listText":"Gogogo.. Make the bitcoin soars...&nbsp;","text":"Gogogo.. Make the bitcoin soars...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376303076","repostId":1183538956,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":376970597,"gmtCreate":1619084734219,"gmtModify":1704719383755,"author":{"id":"3566888623365652","authorId":"3566888623365652","name":"seejy","avatar":"https://static.tigerbbs.com/6da6b43e152c674c5cce9536c5613129","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"need to think more about that.","listText":"need to think more about that.","text":"need to think more about that.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376970597","repostId":1183538956,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":376925822,"gmtCreate":1619081891166,"gmtModify":1704719350125,"author":{"id":"3579667199980202","authorId":"3579667199980202","name":"rayhky","avatar":"https://static.tigerbbs.com/d1f6b9f52c6107c86caad286e97f3943","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Bitcoin. Can trust?","listText":"Bitcoin. Can trust?","text":"Bitcoin. Can trust?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376925822","repostId":1183538956,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":376926499,"gmtCreate":1619081771911,"gmtModify":1704719347829,"author":{"id":"3560747638234682","authorId":"3560747638234682","name":"DanielHee","avatar":"https://static.tigerbbs.com/090a057ab07500c049484fd184e1322b","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":8,"crmLevelSwitch":0},"htmlText":"Why is it good? So much energy consumption.&nbsp;","listText":"Why is it good? So much energy consumption.&nbsp;","text":"Why is it good? So much energy consumption.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/376926499","repostId":1183538956,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4103538,"gmtCreate":1619095212444,"gmtModify":1680785127489,"authorId":3573943942927358,"author":{"id":3573943942927358,"authorId":3573943942927358,"name":"Ola5528","avatar":"https://static.tigerbbs.com/80f475dff1b8107d8a24e19220f0038d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":376926499,"type":1,"supId":0,"prevId":0,"content":"Energy consumption of traditional financial space is even more. it is all about deep diving into the data instead of reading headlines only without the full picture ","text":"Energy consumption of traditional financial space is even more. it is all about deep diving into the data instead of reading headlines only without the full picture ","html":"Energy consumption of traditional financial space is even more. it is all about deep diving into the data instead of reading headlines only without the full picture "},{"id":4102282,"gmtCreate":1619083102394,"gmtModify":1680785099166,"authorId":3578631759891221,"author":{"id":3578631759891221,"authorId":3578631759891221,"name":"keaty","avatar":"https://static.tigerbbs.com/bcf9d00e41b755619a4b4c3eb6f05541","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":376926499,"type":1,"supId":0,"prevId":0,"content":"good for her <u>pocket</u>","text":"good for her <u>pocket</u>","html":"good for her <u>pocket</u>"}],"langContent":"EN"},{"id":376920003,"gmtCreate":1619081304702,"gmtModify":1704719341033,"author":{"id":"3570274210527584","authorId":"3570274210527584","name":"Adam922","avatar":"https://static.tigerbbs.com/6b7b723d4c3d79eeabe2fbe9aea98564","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Oh wow","listText":"Oh wow","text":"Oh wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376920003","repostId":1183538956,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":17,"commentSize":7,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1183538956"}