"Every Single Bitcoin Transaction—Even Buying A Latte—Consumes Over $100 In Electricity, Says A New Report"
BTC_AT_TIME $34,155
Published in Fortune on 2023-10-26, "Every Single Bitcoin Transaction—Even Buying A Latte—Consumes Over $100 In Electricity, Says A New Report" declared Bitcoin dead or fundamentally doomed. The piece focused on Bitcoin's enormous energy consumption, arguing that the environmental cost made it unsustainable and a target for regulatory crackdown. Bitcoin was trading at $34,155 at the time of publication. Bitcoin began recovering from 2022 lows, climbing from $16,000 back toward $45,000 by year-end.