"Bitcoin Can't Be Stopped" | Michael Saylor Talks Crypto Bull Run Bear Market

The Executive Chairman of MicroStrategy and prominent Bitcoin investor, Michael Saylor recently delved into the expanding influence of Crypto and Bitcoin, Bitcoin mining, and the bitcoin network, particularly in light of the FTX collapse.

According to Saylor, the events of 2022, while unfortunate, served to propel Bitcoin to the forefront of the energy sector. At a Bitcoin Mining Council Q4 briefing, Saylor, a founding member of the council, discussed how the downfall of FTX has emphasized the significance of mining to the network's security and decentralization.

The council was established in May 2021 after Elon Musk halted Tesla's acceptance of Bitcoin payments, citing concerns about the network's dependence on coal as a primary source of energy.

Saylor convened the first meeting of the council to promote transparency, restore trust in the process, and educate the public on Bitcoin mining. As stated on the council's website, Saylor is a vital member of the council, serving as both a facilitator and proponent of Bitcoin.

Since the inaugural meeting, which was attended by several major North American miners, the council has held quarterly reviews to examine the progress of Bitcoin mining with a focus on sustainable energy usage.

During the Q4 review, it was revealed that the Bitcoin mining hash rate has increased by 45% year over year, with a sustainable energy mix of 58.9%. The council also reported that the Bitcoin network consumed 17 basis points of global energy and was responsible for minimal carbon emissions at 11 basis points.

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