CZ tweeted
https://twitter.com/cz_binance/status/1399195759140954112 When you use electricity to run cars, it’s environmentally friendly.
When you use electricity to run the most efficient financial networks in the world, it’s an environmental concern.
this tweet retweets and received likes more than his usual tweets. you can see the media that surrounds elon had not even thought of pointing electricity issues.
Just as people moved from gasoline powered cars to electric will investors also move from bitcoin to ecofriendly alts?
I don't think energy consumption will result in Bitcoin's downfall. Bitcoin miners will always move towards any means that will be better in the coming future for Bitcoin mining. This is natural since the general energy consumption is moving towards that direction anyways and I see Bitcoin miners going that route.
it's not a bitcoin downfall but will just adjust the price for a bit because they can make it happen. miners will play along if the law will make it illegal for not using green source.