Growth Capital Investor Daniel Batten enumerated 19 lesser-known benefits of Bitcoin BTC/USD, emphasizing its humanitarian, energy, environmental and democratic impacts.
What Happened: Batten posted a comprehensive list of Bitcoin’s benefits, emphasizing that these benefits are not hypothetical but are currently impacting an exponentially growing number of people.
Among the humanitarian benefits, Batten highlighted Bitcoin’s role in aiding war refugees, providing a safe store of value in autocratic nations and offering financial equity to women in nations practicing state-level discrimination against women.
He also underscored Bitcoin’s potential in ending energy poverty and creating energy security, particularly in African villages and nation states like Bhutan and Ethiopia.
From an environmental perspective, Batten pointed out Bitcoin’s role in reducing emissions, accelerating the renewable transition and rescuing national parks.
Lastly, he emphasized Bitcoin’s benefits to liberal democracies, including its use as an international, borderless currency that governments cannot surveil or freeze.
Why It Matters: Batten’s tweet comes at a time when cryptocurrencies, particularly Bitcoin, are under scrutiny for their environmental impact and regulatory concerns. However, his detailed list provides a fresh perspective on the multifaceted benefits of Bitcoin, extending beyond its conventional use as a digital currency.
His emphasis on the humanitarian and democratic benefits of Bitcoin underscores its potential in fostering financial inclusion and freedom, particularly in autocratic nations and regions experiencing economic instability.
The environmental and energy benefits highlighted by Batten also counter the narrative of Bitcoin’s high energy consumption, suggesting that it could potentially contribute to sustainable development and energy security.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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