Cryptocurrencies are considered to solve many issues currently plaguing the traditional financial system.
Adrian Grenier, a UN Environment Goodwill Ambassador, is convinced that cryptocurrencies can solve numerous issues currently plaguing some industries worldwide.
He made this statement in a recent interview with Yahoo Finance, stating that crypto can fix a lot of the systems that are broken currently and are quite wasteful across all industries.
Bitcoin mining has come under pressure from various quarters over the past few years. According to various research published over the years, Bitcoin mining consumes a lot of energy, with most of the power coming from non-renewable sources that are bad for the environment.
However, Grenier defended operations like Bitcoin mining, stating that there are tradeoffs for everything. He tags himself a realist and believes that crypto mining is the price to be paid for enjoying the benefits of Bitcoin and other cryptocurrencies like Ethereum.
He added that Bitcoin is not just a thing that uses energy. He is convinced that cryptocurrency assets will make many industries more efficient. Hence, he believes that the global net benefit of cryptocurrencies is a positive one.
The cryptocurrency market has performed well in recent weeks, recovering from the slump that has affected its performance since the start of the year. The total cryptocurrency market cap is now above $2.1 trillion at press time.
Bitcoin continues to lead the industry in terms of market cap and is now trading above $46k per coin. However, Bitcoin’s massive market dominance has decreased in recent months.
According to the latest data from Coinmarketcap, Bitcoin has a market dominance of 40.7%. On the other hand, Ether continues to increase and has a market share of 19.5%.
Despite the latest rally, Bitcoin remains some way off its all-time high of $69,044, which was achieved in November 2021.