Last Updated on June 11, 2021 by Jason
One River Digital, a cryptocurrency asset manager, says that the majority of investors who hold Bitcoin have decide to make the change to a more carbon neutral approach. The fresh share class allows clients to purchase digital crypto while at the same time balancing out carbon emissions.
The recent increase in demand of crypto for larger corporations has brought the environmental issue to the forefront. Tesla recently announced that it will not be accepting Bitcoin as payment for its vehicles, due to environmental concerns.
One River plans to use an Index to place a premium of tokenized carbon credit on each Bitcoin that is bought – $55, to be exact. The company says that this value is a reflection of the amount of carbon utilized to mine one token. One River then purchases those carbon credits and validates them on the blockchain.
They aim to develop an environment that allows for clean digital crypto. President of One River, Sebastian Bea, said, “We look forward to further opportunities as the digital asset ecosystem seeks a 100% carbon neutral future.”