Cryptocurrency expert predicts growth of bitcoin capitalization to $ 3.3 trillion

Climate technology specialist Daniel Batten has released the results of his global research. In his opinion, bitcoin BTC $97,914.21 Bitcoin -1.30% Market capitalization $1.94 trillion VOL. 24 hours $3.03 billion has already become a leading asset in the field of managed social services (ESG). The expert noted that about $ 23 trillion in cryptocurrency is currently blocked in ESG funds. This is in stark contrast to the BTC capitalization, which is currently estimated at $ 724 billion.

Batten notes that if 1% of ESG fund funding goes into the BTC ecosystem, it will instantly increase the capitalization of the flagship crypto asset to $ 1.68 trillion. If this figure is increased to 2.5%, then the capitalization of bitcoin will be $ 3.3 billion.

The analyst is inclined to believe that the Bitcoin network has «clear advantages compared to climate funds.» According to the tech expert, many have complained that the process of mining the main digital coin is extremely energy-intensive and has a negative impact on the environment. In his latest article, Batten notes that these arguments are largely based on a single study by the Cambridge Center for Alternative Finance. The expert argues that this data is highly outdated, especially in the rapidly developing BTC mining segment.

Batten has also developed the BEEST model, which includes information about offline cryptocurrency mining. This system indicates that about 28% of the hashrate in the Bitcoin network is concentrated in the hands of 52 mining corporations. Other organizations use sustainable and renewable energy sources for mining.

The expert summarized that the bitcoin network uses more than 52% of clean energy. It is noteworthy that over the past 4 years, carbon dioxide emissions from BTC mining have not increased significantly. Specialized miners annually reduce environmental emissions by 6%, and this figure can be significantly improved with the help of targeted initiatives.