World Economic Forum (WEF) describing the positive impact of Bitcoin

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A circulating video clip showed that the WEF body changed its stance on Bitcoin & Bitcoin mining operations.

The World Economic Forum (WEF) is an independent, non-governmental organisation that works to improve the world’s state. The main vision of this organisation is to engage with leaders of business, politics, academia, and society to shape global, regional, and industry agendas to fight against the big challenges. 

In the past, the WEF body criticised Bitcoin badly many times. At the time they mainly targeted Bitcoin mining operations as a very big pressure on the world. They claimed that the Bitcoin network would consume a very high amount of electricity in 2020.

In the latest, a new video is in circulation across social media platforms in which we can see that the WEF body appreciated Bitcoin (BTC) as a positive thing for the world. They call Bitcoin mining clean, creates jobs, etc.

Many people claimed that the WEF body changed its stance on Bitcoin suddenly but some Bitcoin proponents said that nothing happened suddenly. 

The WEF body changed its stance on Bitcoin because of the leadership of BlackRock CEO Larry Fink. Fink is currently on the WEF Board of Trustees and probably he did his job perfectly to show the positive side of Bitcoin to this level.

It is worth it to note that it was only BlackRock which created the top level of hype around Bitcoin spot ETF products, before Jan 2024. Before BlackRock, many fund managers filed for Bitcoin spot ETF products but every time rejected by the American Securitieses regulatory body SEC but after the entry of BlackRock the whole game changed. In Jan 2024, the SEC body approved 11 Bitcoin spot ETF products.

In the last few weeks, the trade price of Bitcoin surged more rapidly over the last 5-6 months, obviously because of the rapid increment in the Bitcoin buy demand.

Recently Michael Saylor, the former CEO of the business intelligence firm which holds 193,000 BTC on the company’s balance sheet, said that we are in the Gold rush era of Bitcoin and after 10 years no one ( individual/regulator) will be able to influence the trade price of Bitcoin.

Read also: 1M people purchase 671K Bitcoin (BTC) above $60k price, Now BTC heading toward $74k