Adrian Patten, co-founder and chairman of Cobalt, a critical risk and settlement infrastructure provider, acknowledged the currency’s unwieldy nature.
But he said Bitcoin derivatives are paving the way for environmentally friendly decentralised transactions.
He told Express.co.uk: “While Tesla has raised legitimate concerns about the energy usage of Bitcoin, resulting in a huge dip across the digital asset market, there are some nuances the statement doesn’t take into account.
“Firstly, there has been a huge growth in the Bitcoin derivatives market, especially on the institutional side.
