Bitcoin Is Much More Than a Speculative Asset
There has been a huge amount of talk of es g. as it relates to bitcoin this week specifically obviously in the case of tesla reversing policy and no longer accepting bitcoin payments for cars because of environmental concerns. However i think that sometimes when we talk about es g we forget about the s and the g and if we want a complete picture of how. Bitcoin fits within this mindset. We can't only discuss the energy and environmental side. So today i'm reading. Alex glad scenes latest piece called. Check your financial privilege while those comfortable in the dollar bubble derived bitcoin the stories of three emerging-market users demonstrate why it is so important if you like this essay go back and check out my episode called bitcoin. Investing is es ge investing but for. Now let's get to reading in the eyes of most western elites investors journalists and academics. Bitcoin rates anywhere from an annoyance to a disaster. Just a few days ago. American billionaire charlie munger described. Bitcoin is disgusting and contrary to the interests of civilization. Warren buffet wants. The world's richest person sat next to monitor and obvious agreement. He said bitcoin is a delusion and rat poison squared and is warned that he is sorry about its rise because people get their hopes up. That's something like this is going to change their lives. Bill gates who also used to be. The world's richest person has said. Bitcoin is the greater fool theory investment. And that he would short it if he could. Hbo host bill maher skewered bitcoin in an extended segment on his show. Saying that the new currency's promoters are money. Hungry opportunists a few weeks earlier the new york times story that said bitcoin will ruin the planet financial times columnist. Martin wolf has long pegged it as quote ideal for criminals. Terrorists and money. Launderers prominent ivy league economist. Jeffrey sachs said that. Bitcoin offers nothing of social value. While former international monetary fund chief in european central bank president christine lagarde has called it a tool for totally reprehensible money laundering activity over the past decade. These financial experts. Reporters and policymakers have continuously pounded the narrative that bitcoin is risky dangerous bad for humans and bad for the planet.