Bitcoin’s a Net Positive
American Senator Ted Cruz believes that Bitcoin and BTC mining is beneficial to the economy and the environment. Cruz asserts during the Texas Blockchain Summit that Bitcoin fosters wealth, which benefits the environment. He said that If you consider the environment, pollution and poverty go hand in hand. A community produces more filthy energy the poorer it is.
He continued saying that that’s fantastic if you’re operating a brand-new Tesla. However, if you are unable to purchase one, it is of little use. The fact that there are many entrepreneurs at the Texas Blockchain Summit event in Austin is another exciting aspect of Bitcoin. There are many folks in that room who are supporting their families. Additionally, that wealth has a net positive impact on the environment.
Huge benefits for the Environment
Cruz claims that mining digital assets is a huge net benefit for the environment since it encourages the production of renewable energy while utilizing energy that would otherwise be squandered. He believes cryptocurrencies are good for the environment overall. In fact, there is a huge environmental advantage overall. The availability of several renewable energy sources is essential for the environment. he considers it to be a huge benefit for the environment to be able to use stranded natural gas in this way.
Additionally, according to the Republican senator, bitcoin mining aids in the control and optimization of electricity distribution. If there is ever a moment when there is a power crisis or shortage, whether it be a freeze or another natural calamity when power-producing capacity goes down, this creates the potential to immediately move that energy to put it back on the grid.
Cruz asserted earlier this year that he was a fervent proponent of Bitcoin and that it was serving as a hedge against inflation.
Source: https://www.thecoinrepublic.com/2022/09/19/texas-senator-ted-cruz-extremely-bullish-on-bitcoin-believes-it-an-asset-for-the-environment/