Bitcoin is likely to face a new onslaught over its damaging environmental footprint.
- A number of climate activist groups like Greenpeace and crypto billionaire Chris Larsen are unveiling a “Change the Code, Not the Climate” initiative, to pressure the Bitcoin community to disrupt the way to order transactions that consume more power.
- The campaign will purchase ads in major publications in the next month. Greenpeace, Environmental Working Group, and local activist groups are fighting with Bitcoin miners also mobilizing their members for local efforts.
- The initiative has already reached out to a number of key people and companies, some of them involved in Bitcoin and still committing to Environmental, Social, and Governance or ESG compliance.
- Michael Brune, in charge of the campaign, stated that the campaign is for the long haul but they are optimistic to compel leadership to accept that this is a problem, which needs to be resolved.
Bitcoin’s major rival, Ethereum, is preparing for a major software revamp that will make it more environmentally friendly.
BTCUSD up +1.04%
Source: Bloomberg
