Wrapped, Tokensoft and MOSS.Earth are teaming up to launch a climate-friendly Bitcoin asset. The aim is to pave the way for environmentally conscious investors to become digital store of value.
The issue of Bitcoin’s ecological footprint is currently causing heated discussions within the crypto space. With Elon Musk and the Chinese government, several players are calling on miners to take more environmentally friendly measures. Although some of the digital miners have already produced BTC in a climate-neutral way before, the debate has recently given rise to an interest group that aims to lead the mining industry into a cleaner future.
Tech stocks: Bitcoin Prime is winning
Even in the years before the Corona pandemic, tech stocks were pulling the entire stock market up. This trend intensified during the crisis. But recently the world of tech stocks has been rumbling. Fund manager Beckers, however, sees the correction of tech stocks „an absolute entry opportunity in the medium and long term.“
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Financial service providers around the crypto space are also recognising the signs of the times. Wrapped, for example, has now announced the „world’s first climate-neutral Bitcoin asset“ – the eBTC. The product is the result of a cooperation between the financial service provider Wrapped and the climate crypto company Bitcoi Prime. Check out Frau-Margarete for more Bitcoin Prime info. The technical framework is provided by Tokensoft. The eBTC is a mixture of Bitcoin and the native MOSS token (MCO2), which is backed 1:1 by real Bitcoin. Environmentally conscious investors should be able to use it to gain exposure to bitcoin while allaying their concerns about bitcoin’s carbon footprint.
How the Bitcoin product works
Transactions are thus not processed via the Bitcoin Blockchain, but via the Celo Blockchain. Furthermore, users should be able to track the ESG investment criteria at any time and be able to exchange their assets back into BTC on a 1:1 basis.