Bitcoin Price Warning: Economist Predicts Zero Value Due to Energy Consumption

Economist Steve Keen has caused a stir in the cryptocurrency community with his prediction that Bitcoin's price could go to zero due to its high energy requirements.

Keen, known for warning ahead of the 2008 financial crisis, made this statement on the Diary of a CEO podcast. He argued that Bitcoin's core design makes it vulnerable in a world increasingly focused on reducing energy consumption.

The economist highlighted the long-standing criticism of Bitcoin's energy usage, which is necessary to secure its public ledger through proof-of-work. However, proponents counter that Bitcoin mining is becoming increasingly powered by renewable energy and that its energy usage underpins a decentralized financial system resistant to censorship.