Bank VS Bitcoin Energy Usage

A recent report by Galaxy Digital analyzed Bitcoin energy usage as compared to traditional banking energy consumption, results showed that the traditional banking system consumes more than double the energy bitcoin consumes.

The report compared the energy consumption between the banking system, gold, and bitcoin.

The Bitcoin network consumes about 113 89 TWh/yr in total while the gold industry uses about 240.61 TWh/yr, and the bank consumes much more.

State-chartered banks in Texas can now hold crypto for clients as long as they follow due process and protocols of the law, according to the notice issued by the Texas Department of Banking.

The Texas Department of Banking believes that Texas Finance Code ยง 32.001 already made provisions for custody and safekeeping of digital currencies.

These banks will also be able to safeguard copies of private keys.

Warren Buffett’s Berkshire Hathaway invested exactly $500 million into digital bank, Nubank and acquired the Easynvest brokerage company.

As reported by CNBC, the two financial firms will offer their customers investments in Bitcoin ETFs later this year.

Warren Buffett might have changed his mind on bitcoin after the lunch with CEO of the TRON Foundation, Justin Sun, Charlie Lee and Yoni Assia when he was gifted a phone with some Bitcoin and Tron in a Wallets inside it.

Author: mBRzeVZxHo

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