Economist Steve Keen has issued a stark warning that Bitcoin could eventually crash to zero due to its high energy consumption. Keen, known for predicting the 2008 financial crisis, argues that Bitcoin's security model, which relies on extensive energy use, could become unsustainable as global priorities shift towards reducing energy consumption. He suggests that climate-related policies might target cryptocurrencies, potentially leading to regulatory restrictions.
The warning has sparked debate within the crypto community, with critics like James Lavish dismissing Keen's claims as a reaction to missed investment opportunities. Despite historical resilience against similar criticisms, Bitcoin's energy demands remain a contentious issue, especially as global policy discussions evolve.
Economist Steve Keen Warns Bitcoin Could Crash to Zero Over Energy Concerns
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