Norway Minister of Climate Holds Bitcoin; Says its "well-suited for store of val

[Cristiano]

Sveinung Rotevatn, Norwegian Minister of Climate and the environment,  in a recent podcast appearance has cleared the air around Bitcoin’s impact on the environment by advocating its use and even said he himself holds the top cryptocurrency. He also claimed that Bitcoin is increasingly proving to be a “well-suited store of value.”

Rotevatn explained,

What might make Bitcoin so exciting is that it has some of the same properties. You can’t suddenly discover a ton of Bitcoin somewhere, giving one country huge reserves. It’s spread evenly, it grows slowly, but steadily, and even has a finite supply…Right. So therefore it’s theoretically well suited as a store of value. Something of value.

Minister of #Climate & @Rotevatn on whether should buy 🚀@DocumentingBTC @BTC_Archive @IanDeMartino @AlyssaHertig @MarcHochstein @LilyKatz @JeffKauflin @cryptomanran @DHQNgo @pete_rizzo_ @joonian

English captions on YT:https://t.co/UKLgZjF4w2 pic.twitter.com/OxtA7BIq17

— Krypto for hele Kongeriket (@kongerik_et) May 6, 2021

The FUD around Bitcoin being an environmental hazard has cropped up at the peak of its popularity, and even though debunked numerous times the Bitcoin deniers seem to keep fueling it with headlines such as “Bitcoin network eats up as much electricity as the state of Texas.” However, they conveniently forget to mention that the majority of the energy used comes from renewable sources.

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