Bill Ackman, a well-regarded investor and CEO of Pershing Square Capital Management, outlined a hypothetical scenario that has sparked intense debate among crypto enthusiasts, economists, and environmentalists.
Ackman’s comments touched on several critical issues, including the sustainability of Bitcoin mining, its implications for global energy consumption, and the broader economic consequences of a rising reliance on cryptocurrencies.
He tweeted:
“A scenario: Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues. Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses. Maybe I should buy some Bitcoin.”
He added that this could also work in “reverse.”
Ackman’s “scenario” prompted a spectrum of responses, ranging from defensive retorts to calls for a more
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