Bitcoin has been for over a decade, but it continues to be one of the most contentious technologies in the world today. Many inquire whether Bitcoin is an ethical investment. There are two factions when it comes to ethical investing: one side focuses primarily on social concerns, and the other on environmental issues.
Bitcoin does admirably when it comes to social concerns. There are so many advantages that cryptocurrencies appear to be tailor-made for them. First, there is the improved access to financial services that it offers. Apart from enabling people without identity documents or bank accounts to make transactions and develop money, BTC also allows them access to high-quality financial services that would otherwise be out of their grasp. In this manner, even if a person has no ID or bank account, they may still conduct transactions or have others make transactions on their behalf. Everyone who possesses a mobile device might profit from this service.”
Bitcoin Disagrees Over ESG Negatives
Many questions if BTC can be considered an ethical investment. When it comes to ethical investment, there are two camps: one side concerns largely about social issues, and another about environmental issues.
In this essay, we will look at how BTC influences both the social and environmental elements of our society, as well as how it compares to other cryptocurrencies on these fronts.
Bitcoin has been regarded as “digital gold” and a store of wealth. Even though this is true, it also allows individuals to do transactions without identifying documents or bank accounts. This gives a degree of financial inclusion that is crucial in developing nations.
Yet, Bitcoin’s benefits are not restricted to the industrialized world; they extend far beyond. For example, if you reside in Venezuela or Zimbabwe (where hyperinflation is common), then BTC could be your sole choice for holding wealth safely and making payments overseas when government-issued fiat currencies become worthless.