The Bitcoin climate bubble

The original crypto coin faces a new and uncertain future. In the past decade, cryptocurrencies have jolted from a niche community of anarcho-monetarists to an institutionally recognized asset. From Goldman Sachs announcing investments in Bitcoin to central banks around the world racing to unleash their own digital currencies, the crypto revolution is — for better or worse — here to stay. While cryptocurrencies like Bitcoin are advertised as anti-inflation hedges or alternatives to mainstream monetary and payment systems, this past week has laid bare a more sobering reality. With Ethereum…