Climate concerns to crime: Bitcoin’s dark side draws scrutiny

Bitcoin has enjoyed a blistering rally since last fall, but that ascent has also renewed attention on environmental, social, and governance concerns surrounding the world’s most popular cryptocurrency.

Bitcoin’s latest rally to another all-time high north of $60,000 may have lost some steam this week, but its blistering ascent since last year has reignited concerns about the toll Bitcoin is taking on people and the planet. In the United States, President Joe Biden’s administration has voiced concerns over bitcoin’s role in money laundering, the potential fallout of financial speculation, and bitcoin’s environmental impact.