Ripple CEO Warns Companies Buying Bitcoin


With the presidential elections over in the United States, Joe Biden and Kamala Harris won. With the change of presidents, it was also listed what kind of steps the Biden administration could take the fastest regarding the environment, which the Trump administration ignored. Drawing attention to the issue, Ripple CEO Brad Garlinghouse referred to companies that invest in Bitcoin.

According to the analysis of NYT Politics, Biden management can quickly take the following steps:

  • Rejoin the Paris Agreement
  • Getting together with global leaders
  • Withdrawing the cheaper energy prices
  • Not to overlook the relationship between climate and pandemic
  • Making laws to cut emissions

The Paris Agreement, which has been in force since 2016, is an international agreement that has entered into force to keep greenhouse gas emissions below harmful levels. However, the Trump administration did not sign this agreement as the United States.

This highly reactive attitude is among the most criticized aspects of the defeated president, especially by environmentalists. After this post, Ripple CEO Brad Garlinghouse also made a statement on his Twitter account. Garlinghouse, who believes that Bitcoin (BTC) extraction is a waste of electricity and has expressed these views in the past, made a reference to companies that invest in Bitcoin, especially Square.

Ripple’s CEO had previously bombarded Bitcoin and Ethereum (ETH), working with the proof-of-work algorithm, and argued that these cryptocurrencies contribute to global warming. Garlinghouse states that XRP, produced and controlled by his company, is more environmentally friendly.

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The consensus system used in Ripple is slightly different than Bitcoin’s proof-of-work mining. As it is known, a considerable amount of energy must be spent for mining in Bitcoin. XRP is previously produced by Ripple.

Although this is contrary to the main idea of ​​decentralization, it is not difficult to reach the fact that with a small calculation of mind, Bitcoin production uses more energy than XRP that was previously produced. It is known that Ripple wants to make XRP more environmentally friendly with its past collaborations.


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