Ever since the beginning of 2021, mainstream institutions have started rejecting Bitcoin (BTC) mined through high carbon-emitting energy sources. This is because the carbon-emitting energy sources are the reason the world is facing global warming.
Therefore, the mainstream institutions are not willing to purchase and acquire Bitcoin (BTC) until or unless it has been mined through environment-friendly energy sources.
Although the mainstream institutions had only hinted at rejection for such Bitcoin (BTC), they completely detested them after Tesla’s announcement. Tesla had recently announced that it was going to accept Bitcoin (BTC) for payments for purchases at the company.
However, Elon Musk dropped the bomb on the entire Bitcoin (BTC) when he announced that Tesla had to revert its Bitcoin (BTC) decision. Musk clarified that the company had come to the decision of discontinuing Bitcoin (BTC) due to the carbon-emitted mined Bitcoin (BTC).
Since then, mainstream investors are more interested to learn about carbon-neutral Bitcoin (BTC). They are interested in investing their money and funds in carbon-neutral Bitcoin (BTC) than invest it in other Bitcoin (BTC).
This information and claim have been made by One River Digital Asset Management firm. The firm has claimed that with the passage of time, more mainstream institutions will adopt carbon-neutral Bitcoin (BTC). As a result, individual investors would also make a run for the carbon-neutral Bitcoin (BTC). Soon, the entire Bitcoin (BTC) industry would by overtaken by Bitcoin (BTC) that are carbon-neutral.
One River Digital is a hedge fund provider that focuses on cryptocurrencies. At present, One River Digital is known for providing users with hedge fund services for Ether (ETH) and Bitcoin (BTC).
Looking at the potential and demand for carbon-neutral Bitcoin (BTC), One River Digital decided to go offer carbon-neutral Bitcoin (BTC) to its clients. Since the switch, One River Digital has revealed that it has observed great interest in its carbon-neutral Bitcoin (BTC).
This is proven by the recent shift that the investors have made from One River’s previous Bitcoin (BTC) hedge fund to the latest carbon-neutral Bitcoin hedge fund.
This goes to show that the investors are much more interested to invest in carbon-neutral Bitcoin (BTC) than invest in old Bitcoin.
One River Digital, a crypto-focused hedge fund offering exposure to Bitcoin and Ether (ETH), announced Wednesday that an “overwhelming majority of assets” in its institutional Bitcoin fund have chosen to switch to One River’s new carbon-neutrality share class.
It was back in April when One River Digital had made an announcement in regards to dealing with the carbon-emitted Bitcoin (BTC). The firm announced the launch of a new system where it would calculate the carbon cost of mining Bitcoin (BTC).
Once calculated, it goes ahead and purchases the credits for carbon in the tokenized form in order to offset the impact on the environment. According to the figures and calculations, the carbon that costs in order to carry out mining of a single Bitcoin (BTC) is $55 per year.
Therefore, the companies go ahead and buy $55 worth of carbon credits or 0.15% of Bitcoin’s value to validate the particular Bitcoin (BTC).