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Michael Saylor, an executive at Microstrategy, is a huge proponent of Bitcoin; during the past three years, his organisation has bought close to 130,000 bitcoin.In a paper released six days ago, the US Office of Science and Technology Policy asserts that proof-of-work mining activities have a negative impact on climate change. The Biden administration needs to take action against the mining industry and establish standards and restrictions, according to the science and technology department. Saylor wrote a letter to journalists, investors, and regulators in response to the report, complaining about the “sheer volume of misinformation [and] propaganda” that has been going around recently.The Executive Chairman of Microstrategy Writes a Blog Post About Bitcoin and the EnvironmentMichael Saylor of Microstrategy tweeted a link to a recent blog entry he wrote about Bitcoin and the environment. Saylor said with a link to his blog post, “Given the sheer level of disinformation [and] propaganda circulating lately, I thought it vital to communicate the reality regarding Bitcoin Mining and the Environment.”Bitcoin vs. Other Industries, Bitcoin Value Creation &amp; Energy Intensity, Bitcoin vs. Other<a href="https://www.coingabbar.com/en/cryptocurrency" rel="noopener noreferrer nofollow"> Cryptos, Bitcoin &amp; Carbon Emissions,</a> Bitcoin &amp; Environmental Benefits, and Bitcoin &amp; Global Energy are only a few of the issues covered in the editorial “Bitcoin Mining and the Environment.” Each topic serves as an example of the diverse viewpoints that might be held regarding the myriad environmental myths around the Bitcoin network.According to Saylor’s blog post, Bitcoin is fueled by stranded, surplus energy that is generated at the grid’s edge, when there is no other demand for electricity, and at times when no one else is. The Microstrategy executive’s column adds, “Retail [and] commercial electricity consumers in large population regions spend 5–10x more per kWh (10–20 cents per kWh) than bitcoin miners, who should be considered to be wholesale consumers of energy” (typically budgeting 2–3 cents per kWh).Saylor emphasises his belief that much more energy is created than the earth actually needs. According to Saylor, around a third of this energy is lost. The final 15 basis points of energy are used to power the whole Bitcoin Network after 99.85% of the world’s energy has been allocated to other uses. The last remaining margin of energy is the cheapest and least valuable.In the section titled “Bitcoin Versus Other Industries,” Saylor mentions a presentation by the Bitcoin Mining Council. The Microstrategy chief also spoke about the benefits of technology for the environment and the Bitcoin network. Saylor cited Daniel Batten, the CEO of Geneious and an expert in ESG, as having written a number of publications on the subject.Batten’s output Batten’s work was covered by<a href="https://www.coingabbar.com/" rel="noopener noreferrer nofollow"> CoinGabbar</a> News in May after one of the studies he worked on claimed that bitcoin mining might reduce global warming by 0.15% by the year 2045. In the report, he also made the case that Bitcoin was the only technology that could effectively reduce emissions.Because it may be used to monetize stranded natural gas or methane gas energy sources, there is growing awareness that Bitcoin is highly advantageous to the environment. The case for reducing methane gas emissions is especially strong, and [Daniel Batten] has published some outstanding works on the subject. Additionally, it has become evident that energy systems that predominantly rely on renewable energy sources like wind, hydro, and solar can occasionally become unreliable owing to a lack of water, sunlight, or wind.In this case, they need to be connected to a significant electrical consumer, such as a bitcoin miner, to provide grid resilience and finance the expansion of extra capacity required to sustainably power significant industrial and populated areas. The recent incidence of major Bitcoin energy curtailment on the ERCOT grid in Texas demonstrates the advantages of bitcoin mining to sustainable power providers.The executive chairman of Microstrategy provides two references to studies by the<a href="https://www.coingabbar.com/en/crypto-blogs-english/how-does-bitcoin-mining-work" rel="noopener noreferrer nofollow"> Bitcoin Mining Council</a>. Saylor also shares the casebitcoin website for studying the global environment. The blog post by the Microstrategy CEO ends by expressing gratitude to readers for reading Saylor’s well-researched article. According to current bitcoin treasuries lists, Microstrategy presently has 129,698 BTC on its balance sheet.

Michael Saylor on the “Sheer Volume of Misinformation” Relating to Bitcoin

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