"I Hold Bitcoin"- Ripple-Co-Founder Refutes Advocating Ban On BTC

Chris Larsen, Ripple co-founder, recently shared his personal comments on Bitcoin (BTC) to consider a low energy validation method. In an interview, he confirmed that he has joined hands with Greenpeace to launch a $5 million ‘Change the Code, Not the Climate’ campaign. However, Ohio’s Republican U.S. Rep. Warren Davidson thinks that Larsen is trying to ban Bitcoin.

Larsen invested $90 million in 1.5 yrs

Davidson in a Twitter thread alleged that Ripple Co-founder attacked BTC’s Proof-of-Work in a way to prohibit the world’s largest cryptocurrency. Meanwhile, Larsen clarified that this is exactly what he is advocating for. He also mentioned that he holds Bitcoin and wants it to be successful in the future.

Larsen added that Ethereum is about to get a major update and BTC will be the outlier on energy use. Big institutions and Generation Z (GenZ) are focused on climate commitments. He believes that updating the code to either a low energy validation method will certainly Strengthen the BTC in a long run.

Ripple Co-founder informed that he invested around $90 million in 1.5 years to work out possible solutions to counter climate change. However, he believes that moving toward a low-energy consensus mechanism will be the most suitable solution for this.

I want BTC and ETH to succeed, says Ripple’s Co-founder

In another comment, Larsen asserted that they need short-term solutions to fix this as Bitcoin is and will remain very important for the cryptocurrency ecosystem. He also added that these are his alone efforts as Ripple is not involved in this campaign.

Bitcoiners – I know many of you may not believe this, but I’m not trying to work against you here, wrote Chris Larsen

In an interview with Bloomberg, Ripple’s Co-founder mentioned that in the next five years BTC will consume as much power as Japan uses. The $5 million campaign will convenience the Bitcoin community to choose less power-consuming alternatives. Larsen mentioned that he wants to see Bitcoin and Ethereum succeed.

On the other hand, Ethereum, the world’s second largest cryptocurrency is heading towards a major software update. As per the report, ETH’s switching on to Proof of Stake will cut its energy consumption by 99%.

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Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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