(Bloomberg) Ripple co-founder Chris Larsen wants to promote Bitcoin’s environmental sustainability and has invested $5 million in the “Change the Code” initiative.
The initiative, which has earned the support of several climate activist organizations, including Greenpeace, aims to urge the Bitcoin community to change the way it organizes transactions.
The initiative will see several ads on leading publications starting next month to raise consciousness about the impact of Bitcoin mining.
Larsen says Bitcoin has remained an outlier in climate sustainability due to its energy consumption, which he believes will be as much as that of Japan in five years.
The Ripple executive says Ethereum is already changing, while newer protocols such as Cardano and Solana are energy efficient. He believes Bitcoin’s power consumption issues can be altered by changing the network code through a hard or soft split.
Larsen warns that if Bitcoin does not change, its appeal to investors will fall.
The Ripple co-founder says the action is not a climate action campaign. He also refutes claims that he is concerned about Bitcoin rivalry, saying if that is the case, he would leave the cryptocurrency as it is.
BTCUSD is up +1.47%, XRPUSD is up +1.45%.
