Environmental Concerns over Bitcoin are only Temporary (Bloomberg recap)

Cathie Wood, head of Ark Investment Management, says concerns over Bitcoin’s environmental impact are temporary.

Despite China’s restrictions on mining, she still remains bullish on the yuan. She noted that a lot of the country’s mining revenue is going to the US.

Concerns about Bitcoin’s impact on the environment are unlikely to stop its long-term path, said Cathie Wood, the star manager at Ark Investment Management.

Elon Musk is pushing for the use of renewables in the U.S., which is good for the environment.

*Source https://www.bloomberg.com/news/articles/2021-07-14/cathie-wood-says-esg-concerns-over-bitcoin-are-temporary