During a Clubhouse interview with CNBC’s Andrew Ross Sorkin, Microsoft co-founder Bill Gates criticized Bitcoin for its excessive use of energy, claiming it consumes more electricity “than any other method known to man.”
Gates reiterated that he has not jumped on the Bitcoin train yet, as he has stated recently.
“I did not choose to invest in Bitcoin. I’m buying malaria vaccines. I’m getting measles vaccinations. I invest in companies that produce products. ”
However, he said he appreciates those who make fortunes with Bitcoin and added:
“The Gates Foundation is currently developing its own digital currencies with” ultra-low “transaction fees.”
As big companies like Tesla and Square add Bitcoin to their balance sheets, they face criticism from those concerned about the carbon footprint of the cryptocurrency.
In March, Ripple CEO Brad Garlinghouse described mining as a “big waste” and urged public companies to use “more energy efficient” assets in October. Since then, he has softened his rhetoric on proof-of-work currencies and promoted sustainable mining in his latest Twitter post:
“The priorities of the Biden Administration are clear: they talk about climate change every day. Instead of discussing exactly how much energy mining uses, let’s focus on making this industry a leader in sustainability. ”
One of the criticisms of Bitcoin is the carbon issue. Bitcoin production is known as a harmful process that causes very high levels of carbon emissions. We have to point out that this is not a problem specific to Bitcoin, in fact many new technologies are very harmful to the environment. At this point, what needs to be done is to talk about them and find a solution.