Kyle McDonald, an independent researcher, predicted on CoinDesk TV’s “First Mover' show that the Bitcoin network will be 'regulated away' because of its energy consumption. _franvela reports.
Speaking on CoinDesk TV's"First Mover" program on Friday, McDonald cited the"climate crisis" and Bitcoin's massive use of energy. He said that because “Bitcoin doesn’t have the coordination like Ethereum to leave proof-of-work,” it could be “the first to be regulated away.”
Crypto’s energy consumption has become a major bone of contention for environmental activists and governments, and McDonald said bitcoin will never see"$69,000 again." The cryptocurrency traded close to that mark last November.
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