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Crypto Daily News: 7 Premier League Teams Sign 7with eToro; Bitcoin Carbon Footprint more than One Million Trans-Atlantic Flights
In today’s edition of Crypto Daily News, we’ll cover the seven premier league teams that just signed a deal with eToro for advertising. Also, we’ll touch on the new study out that shows Bitcoin’s carbon footprint now equals a million trans-Atlantic flights.
Crypto Daily News: August 21st, 2020
Premier League & eToro
It’s official. We’re bringing bitcoin to football
eToro has launched landmark partnerships with 7 Premier League clubs all paid using #bitcoin.
“Blockchain can improve the experience for everyone who loves the ‘beautiful game’,” says eToro UK MD Iqbal V. Gandham.
The UK-based trading platform eToro has just announced that it has signed a large advertisement deal with seven Premier League football clubs. Revealed this morning, the clubs will be paid in Bitcoin (BTC).
The clubs that have signed deals with eToro include:
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This isn’t the first time a European football team has represented cryptocurrency but it does show its integration into the mainstream media.
“This is very much the first step on a long road to football fully embracing bitcoin and the underlying blockchain technology,” eToro’s UK managing director Iqbal V. Gandham meanwhile said quoted by The Drum.
Bitcoin (BTC) Carbon Footprint
Erin Marquis, the managing editor at Jalopnik, just published an article about Bitcoin’s carbon footprint and it’s quite alarming. She highlights that currently 20 megatons of CO2 is released into the atmosphere currently – which makes up just as much as the whole Republic of Ireland.
The Guardian reported back in January of this year that 80% of Bitcoin miners’ winnings are invested back into energy consumption.
The author states that if the cryptocurrency, with its Proof-of-Work (PoW) consensus algorithm, were to grow to $50,000 a coin, its energy usage would shoot up 10 times what it already is – scary.