ESG, Tesla and Energy FUD with Lyn Alden
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ESG, Tesla and Energy FUD with Lyn Alden - WBD355
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Location: Los Angeles
Date: Friday 28th May
Project: lynalden.com
Role: Macroeconomist
Over the last few weeks, the ESG narrative regarding Bitcoin has been growing, and we have seen a constant stream of misinformed FUD surrounding the energy sources and usage of Bitcoin miners.
The primary catalyst for this narrative, and the recent drop in price, was when Elon Musk tweeted that Tesla had "suspended vehicle purchases using Bitcoin" due to their concerns "about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions". While the validity of this claim was quickly debunked, the narrative is spreading.
With growing pressure to reduce energy consumption and comply with the ESG movement, what impact will this have on the Bitcoin market?
In this interview, I talk to Lyn Alden, a macroeconomist and investment strategist. We discuss new sources of demand for bitcoin, ESG, Tesla, and misconceptions about fossil fuels and “green” energy.
00:04:18: Introductions
00:04:56: Grayscale's impact on Bitcoin's volatility
00:11:07: ESG and various energy sources
00:16:48: Various energy uses
00:17:43: Fossil fuel pollution
00:22:00: Alternative energy sources
00:24:49: The petrodollar
00:28:26: Trading oil in other currencies
00:32:11: Bitcoin 2021
00:37:33: Tesla
00:43:57: The Mining Council
00:50:38: Lyn and Ethereum
00:52:22: Energy FUD
00:55:53: A macro outlook
01:01:29: Biden's $6 trillion stimulus proposal
01:03:40: Final comments
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Mentioned in the interview:
Bitcoin is coming to hundreds of U.S. banks this year, says crypto custody firm NYDIG
Shale’s New Reality: Almost All Wells Drilled Now Lose Money
The Fraying of the US Global Currency Reserve System | Lyn Alden
Biden's Plan: President to Propose $6 Trillion Budget to Boost Middle Class, Infrastructure
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