Summary
Bitcoin’s price rise is leading to increased mining and greater energy use, which is driving up the cost of energy. This is causing inflation to rise and the dollar to decline, leading to increased demand for Bitcoin and more mining. This, in turn, is driving up demand for energy, creating a cycle of increasing energy use and mining.
Key Points
1. Bitcoin price rise leads to increased mining and greater energy use
2. Driving up the cost of energy, causing inflation to rise and the dollar to decline
3. Driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues