Tudor Gherasim Smirna
Tudor Gherasim Smirna
Economist, President and Co-Founder of the Ludwig von Mises Institute Romania, Assistant Professor at the International Business and Economics Department, the Bucharest University of Economic Studies
Is Bitcoin the Costly Highway?

Is Bitcoin the Costly Highway?

Bitcoin has recently reached a new all-time high in terms of USD, going over $ 62,500. Just as every other time it has happened, this time again there are voices that rejoice the feat and numerous others that decry its sheer volatility, bubble behaviour, deflationary character and, most of all, humongous costs and energy consumption.One tool that monitors Bitcoin’s energy consumption, Cambridge Bitcoin Energy Consumption Index estimates that Bitcoin’s share of the world consumption of electricity is 0,49%, close to 109 TWh annually. More


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