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Andrew Yang Wants To Turn NYC Into A Bitcoin Megahub. That Would Be Terrible For Climate Change

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If Bitcoin were a country, it would rank 27th in terms of energy consumption.
Thiago Prudencio/SOPA Images/Shutterstock
Mayoral contender Andrew Yang wants New York City to capitalize on the Bitcoin boom.
The cryptocurrency has seen a 963% increase over the past year, setting a record valuation near $61,000 in March. (Tesla’s 1.5 billion dollar investment helped spur the rise at the beginning of 2021.) Yang tweeted on February 11th,
“As mayor of NYC - the world’s financial capital - I would invest in making the city a hub for BTC and other cryptocurrencies.”
The former presidential candidate has also tweeted about climate change, calling the issue “a matter of life and death,” hence why New Yorkers were quick to point out the energy consumption controversy that has some environmental experts concerned about future fallout from the cryptocurrency’s meteoric rise.

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Don't buy Bitcoin if you care about the planet

Don't buy Bitcoin if you care about the planet
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Why does Bitcoin need more energy than whole countries?

Running the cryptocurrency Bitcoin requires more energy than New Zealand and Belgium put together. How can something virtual keep power plants around the world so busy? DW's Timothy Rooks looks into the numbers.

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