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Over the past two months, the cryptocurrency market has significantly expanded its audience and created a real hype around itself. Thanks to this, the number of statements, opinions, and expert assessments about various crypto assets has increased dramatically. And it seems that a certain direction of criticism of the first digital asset is being outlined. One of the most famous and richest people in the world supported the thesis that transactions with bitcoin are too energy-intensive.
The creator of the Microsoft operating system, Bill Gates, believes that too much energy is spent when making transactions on the bitcoin network. The billionaire believes that by consuming so much electricity, transactions with the first crypto asset harm the environment. Recall that a few days earlier, a similar statement was made by the US Treasury Secretary, criticizing bitcoin for its excessive energy consumption. It seems obvious that this is a clear ill-will and criticism of bitcoin. This is true, but it is important to understand that the first digital coin is not the entire cryptocurrency market.
Bill Gates said that he would like to see transactions in the bitcoin network that are carried out with the help of "green" energy. Thus, the billionaire draws additional attention to the first cryptocurrency, pointing out its obvious weaknesses. Gates, at the same time, said that his fund is going to create new digital assets that consume a minimum of energy and require minimal transaction fees. It can likely become an effective alternative to the rule of bitcoin in the future.
Even though Gates does not plan to invest in bitcoin, the digital asset market is clearly attracting the attention of the entrepreneur, as evidenced by the intention to create new coins and the constant talk about digital money. Given this, it can be assumed that the cryptocurrency market will begin to expand in a completely new direction, which may become more in demand due to innovative approaches to the creation of digital assets and low transaction fees.
With the successful introduction of new assets and the emergence of real competitors of bitcoin, a system of opposition within the market can be created, in which instead of one, there will be several strong coins, on which the market mood will depend. Under a certain set of circumstances, this can become an additional option in solving problems with the volatility of digital assets, because bitcoin will no longer solely influence altcoin quotes.
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