Bitcoin

The German software developer donated $ 1.2 million of his “undeserved” Bitcoin to a political party

A German citizen who apparently reports his Bitcoin earnings as “Unearned Wealth” has donated more than one million euros to the country’s green political party.

According to the Hamburg media The time, Moritz Schmidt, a software developer from the northeastern city of Greifswald, has sent one million euros, approximately $ 1.2 million USD, to the Green Party of Germany known as “The Greens” or Allianz 90. A party spokesman said Schmidt made big profits during the bull run for Bitcoin (BTC) but was more willing to contribute to environmental and climate-related causes than his cryptocurrencies to HODL.

“The donor has made it clear to us that he sees this income as undeserved wealth that he does not claim for himself, but wants to use socially, for something that corresponds to his convictions”, said the Los Verdes spokesman. “In the meantime, he takes a critical look at the Bitcoin system, among other things against the background that the necessary arithmetic operations consume enormous amounts of electricity.”

The German software developer donated $ 1.2 million of his “undeserved” Bitcoin to a political party
The German software developer donated $ 1.2 million of his “undeserved” Bitcoin to a political party

Los Verdes records show that Schmidt’s donation is the largest the party has received this year. The next higher contribution is 500,000 euros, approximately 600,000 US dollars. According to reports The funds will be used for the party’s general election campaign and the 2021 state election campaign.

The software developer isn’t the only one who seems to expect the cryptocurrency industry to become greener. Many criticized Bitcoin mining for its environmental impact. It is estimated that the network consumes more energy than the entire country of Argentina. However, Mike Colyer, The CEO of cryptocurrency mining company Foundry Digital said so this week believes that bitcoin mining could ultimately ease the transition to a “world where 100% of our energy is generated from renewable sources”.

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