Bitcoin is destroying the planet. At least, that’s the narrative you’re being told. Headlines such as “Bitcoin is terrible for the planet,” “Bitcoin will burn the planet down,” and “Why Bitcoin is bad for the environment” dominate our social media feeds. Politicians are reinforcing this narrative. Recently, Sen. Elizabeth Warren tweeted that we must “crack down on environmentally wasteful cryptocurrencies,” while Treasury Secretary Janet Yellen called Bitcoin “extremely inefficient” and attacked the amount of energy it uses.

Unfortunately for the critics, but fortunately for the planet, this narrative is wrong. Not only does it distort basic facts and statistics, but it also misunderstands the proactive role Bitcoin can play in accelerating a clean energy future.