Navigate money 63
Person 1: I want all my investments to be eco-friendly. So, I invest in ethical funds and bitcoin.
Person 2: I can understand you investing in ESG funds. However, bitcoin is not eco-friendly as it consumes a lot of energy.
Person 1: Oh, is it?! That’s alarming.
Person 2: Yes. If the price of bitcoin increases, then there is a higher incentive for bitcoin miners to consume more energy to mine more bitcoins. Also, the per-transaction energy consumption of bitcoin is high.