Carbon-Neutral Bitcoin on Offer through Ninepoint ETF
Hey there! Before reading the article which is about Carbon-Neutral Bitcoin on Offer through Ninepoint ETF, you should read about bitcoin etf. It shares basic information about this article and also adds more value to it. Do let us know how you feel about it in the comment section below. Happy Reading! Really glad that you are here.
Carbon-Neutral Bitcoin on Offer through Ninepoint ETF
Carbon-neutral bitcoin is on offer through a new cryptocurrency exchange-traded fund (ETF) launched as a collaboration between 9point5 Energy Partners and the Aminex. The two companies are promoting a fund that aims to provide investors with a carbon-neutral way of investing in cryptocurrency, claiming that their ETF is the first to provide a financial instrument that allows investors to both buy and sell the cryptocurrency with a carbon offset.
Over the years, opponents of bitcoin have consistently made one major argument against its suitability as a store of value or currency: its environmental impact.
Efficient production in BTCs requires not only specialized equipment with a short lifetime, but also a significant amount of energy. So much so that companies are starting to develop financial products around the idea of green BTC.
In daily use BTC requires a modest amount of energy. The extraction process is the most energy-intensive part of the whole network. So when most people use the term green BTC, they mean the use of renewable energy for mining activities.
One of the most popular ways to generate renewable energy is through hydroelectric dams, a practice that has been around for many years. But free energy is all around us, and new ways of using it are constantly being developed. Whether it’s tidal turbines, solar farms, or even piezoelectric polymers, innovative ways of capturing energy could solve bitcoin’s energy problem.
Since bitcoin ETFs only appeared in North America a few months ago, they are currently a battleground for adoption. As a result, companies are trying to differentiate themselves by meeting the expectations of investors. Ninepoint is one of these companies. In partnership with CarbonX, Ninepoint offers carbon-neutral exposure to bitcoin through its ETF.
What makes this proposal particularly interesting is the fact that all the costs of offsetting the fund’s carbon footprint will be paid by the manager, Ninepoint, from its management fees and not by the fund’s shareholders.
To achieve the goal of climate neutrality, Ninepoint and CarbonX will support several environmental projects in the Amazon. The level of support is based on an analysis of the environmental impact of the fund’s BTCs.
The aforementioned partnership between CarbonX and Ninepoint comes just weeks after popular businessman Kevin O’Leary spoke out about dirty bitcoin and how it compares to supposed competitors like gold.
There is no green gold. It takes an enormous amount of carbon to get it out of the ground….. The amount of carbon generated by mining, prospecting, scraping, blowing up, recycling gold and extracting other elements is simply brutal in terms of carbon footprint. It couldn’t be worse.
He went on to highlight how bitcoin differs from its often compared rival, gold.
There is a whole new generation of miners in the Nordic countries, in northern Canada, in Sweden, in Switzerland, in France, who are using hydroelectricity, sometimes with a surplus, and burning natural gas where it is already being burned to produce electricity….. So you do it with a zero or reduced carbon footprint and create an asset that doesn’t have the same sustainability issues as gold.
While not everyone is a fan of Mr. O’Leary, his views apply to many and he remains a popular figure. It simply represents a growing group of leading investors who believe in bitcoin and its benefits.
Despite efforts to promote and support green BTC, the network may not be as harmful to the environment as many believe. Yes, a lot of energy is used to run the grid. However, it is important to remember that the Bitcoin network operates on a global scale. Moreover, the network is not limited to the ability to store value – there are several service providers that are typically needed to enable and process transactions.
The Bitcoin network has the potential to replace our dependence on a large number of companies, each with their own carbon footprint. When you consolidate debt, you usually merge several high-interest debts into one low-interest account. The amount of interest paid may seem high, but it should be less than the amount of the initial payments. Bitcoin can be viewed in the same way: its energy consumption is high, but it is the result of consolidating the influence of many service providers into one network.
Another factor that is often overlooked is that, despite the energy-intensive nature of bitcoin, many parts of the world have plenty of energy. This energy, which would otherwise have been wasted, now finds a purpose. The miners realized this and moved to areas where there was a surplus of electricity, such as Quebec, Canada.
Whether the environmental impact of bitcoin is exaggerated or not, we are seeing a growing desire to operate in an environmentally friendly manner. This is nothing short of a good thing.
This source has been very much helpful in doing our research. Read more about bitcoin etf price and let us know what you think.
bitcoin etfpurpose investments bitcoin etfninepoint bitcoin fundbitcoin etf priceninepoint bitcoin etfpurpose bitcoin etf price,People also search for,Privacy settings,How Search works,bitcoin etf,purpose investments bitcoin etf,ninepoint bitcoin fund,bitcoin etf price,ninepoint bitcoin etf,purpose bitcoin etf price,how to buy purpose bitcoin etf,bitcoin etf stock
Marouane Hajji, Founder of Unslashed Finance – Interview Series
“Best of crypto” is a term often thrown around by people to describe an ICO…
Upbit warns its users about 25 altcoins
Upbit, one of the major cryptocurrency exchanges in South Korea, has recently issued a warning…
Bull Perks: The fairest and most community-dedicated platform giving access to early-stage deals
Bull Perks (Bull is the most popular cryptocurrency exchange in the world) is a community-powered…
PayPal processed nearly $2 billion worth of Bitcoin, Ethereum, and Litecoin trades in May
PayPal processed $1.9 billion worth of cryptocurrency transactions in May, according to the company’s most…
Shiba Inu Price Analysis $0.000007
Shiba Inu Price Analysis $0.000007 Shiba Inu is a cryptocurrency that was founded in 2015…
Wirex boosts the crypto market with Cryptocurrency debit cards
Wirex is a London-based fintech company that helps people store, spend, and earn digital assets…