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We Shouldn’t Apologize For Bitcoin’s Energy Usage, Says Anthony Pompliano

Anthony Pompliano

In terms of energy consumption, Pompliano compares Bitcoin to the dollar ecosystem, claiming that the currency requires more energy to serve more clients. Bitcoin’s energy consumption remains constant, and the ratio will get more efficient as the currency grows in popularity.

In terms of volatility, he believes it is important to abandon the Bitcoin price in dollars and begin pricing goods and services directly in BTC. As a result, Bitcoin appears less volatile when compared to the dollar and other currencies.

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Pompliano defended the use of Bitcoin energy in an interview with CNBC’s Joe Kernen, saying it is natural and present in other crucial aspects of our lives. He also compared Bitcoin’s energy expenses to dollar expenses.

Anthony Pompliano said :

“I think the energy argument is interesting, there are two key points that people miss in this argument. The first is that there is a linear relationship between energy consumption and the dollar system. To support more users and more transactions, we need to consume more energy, more data centers, more bank branches, more ATMs, etc.”

The Bitcoin blockchain does not have the same linear relationship with energy consumption because each block consumes the same amount of energy regardless of the number of transactions. Bitcoin will become more efficient as it scales because you will be able to add more economic value to each of these blocks.

That’s an intriguing point Pompliano mentioned since as BTC use grows, each block will hold more transactions, meeting numerous consumer demands (whether banks, foreign transactions, or worldwide customers) while utilising the same amount of energy that each block does now.