Morgan Creek Digital co-founder Anthony Pompliano claimed that Bitcoin is more energy efficient than the traditional financial system (TradFi) due to its scaling measures.

In a recent interview with CNBC, Pomp argued that Bitcoin is more advantageous than the traditional banking system.

   “There is a linear relationship between energy consumption and the US dollar system. Therefore, more energy needs to be consumed to support more users and more transactions. More data centers, more bank branches, more ATMs, etc. are needed. Bitcoin blockchain, Layer-1 does not have the same linear relationship. So no matter how many transactions fit in a transaction block, there is the same energy consumption. So Bitcoin becomes more and more efficient because you can fit more economic value into each of these blocks. Whereas in the old system, scaling you have to consume a lot more energy."

Stating that a large part of Bitcoin consumption is renewable energy, which leads to the development of new technologies, Anthony Pompliano argued that important things in the world use more energy. In addition, he added that the crypto industry should apologize for its use of energy.

   "If you want to maintain your purchasing power in a world of undisciplined monetary and fiscal policy, what you have is a worldwide decentralized computer network that secures that purchasing power and defends it for you, and I think that's why you see over 100 million people around the world adopting this asset."

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Bitcoin's star shone in 2021

Despite everything and the decline in the last few weeks, Bitcoin had a great year in 2021. BTC has managed to surpass the price performances of US stocks and gold in the last three years in a row. However, despite this performance, it could not exceed the $48,000 level on the last day of the year. Even though the "call" options on the option instruments were high on December 31st.

Bitcoin price has traded between $46,000 and $52,000 in the last 26 days. On the last day of the year, the $6.1 billion option expired. It looks like the bull and bear vehicles have balanced equally between $44,000 and $49,000 here. Because of this, the price of $47,175 at 08:00 UTC on December 31 changed little. Even the 3% rally to $48,500 after the expiration of the options could not maintain its position. The bears, on the other hand, are signaling that they have no intention of giving up the upper hand.