“A victory for Wall Street CEOs, but a setback for both the climate and society,” the organization declared.
Greenpeace is particularly worried about the potential surge in the value of the leading cryptocurrency and the subsequent surge in its popularity.
“As the price of Bitcoin increases, so does its environmental impact. Miners consume more electricity, which is predominantly generated from fossil fuels, thereby leading to increased carbon dioxide emissions and water consumption,” the organization explained.
Greenpeace emphasized that BlackRock, Fidelity, and other financial institutions investing in BTC need to actively address carbon emissions.
The organization consistently criticizes the stance of companies involved in Bitcoin mining and circulation for their lack of acknowledgment regarding climate change. According to environmentalists, most cryptocurrency companies working with BTC simply refuse to recognize the reality of global climate change.
In an effort to expose the detrimental effects of Bitcoin mining on climate change, activists recently constructed a three-meter sculpture called “Satoshi’s Skull” using electronic waste, wires, circuit boards, and components. The “Satoshi’s Skull” was adorned with smoking factory chimneys, symbolizing carbon fuel consumption and air pollution.