The Pope of the Vatican City and head of the Catholic church has recently voiced out his concerns on Twitter on the need for the usage of highly polluting fossil fuel in the tech space to be replaced.
This tweet is corroborating a recent Vatican encyclical written by Pope Francis in June 2020. In it, the Pope said that “less harmful alternatives can be used transiently” and called on to wealthy nations to help sponsor the costs in order not “fall disproportionately on the poorest countries.”
He further went on to summon Catholics to shun any form of support to organisations that are a threat to human existence and the environment.
Is The Pope Referring to Bitcoin?
Although the pope make no reference to cryptocurrencies, but this is coming nine days right after Tesla stopped accepting bitcoin for its vehicle purchase because of the concerns of a rapid increase in the usage of fossil fuels for bitcoin mining and transactions. And since then, the cryptocurrency has plunged more than 30%. This is seen by the crypto community as Musk is taking a U-turn despite, his previous influence and support.
Also, lately, there has been report of a threat to the climate in reference to China’s emissions of carbon dioxide emissions which shot up by 9%. This is a high rate compared with the pre-pandemic level.
According to Peter Schiff, America was founded by people who formed government to protect their rights. Now, same Americans want the government to violate the rights of other people. American that was once referred to as the home of the free is now the home of the freeloaders.
He said that without any fanfare from the media, gold has finished the week on a positive high reaching $1,8820, a 20-week high. On the other hand, Bitcoin had witnessed one of the worst bullish runs in a while now, shedding off 40% of its value