The IMF is validating Bitcoin’s economic role, BTC believes substantial
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SBP says that the IMF is forced to include Bitcoin in the National Accounts System (SNA).
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Daniel Batten was critical of the IMF, but SBP believes that you have to read between the lines.
The International Monetary Fund (IMF) expressly mentioned Bitcoin in its report New Standards for Economic Data Aim to Sharpen View of Global Economypublished on July 30. Sustainable Bitcoin Protocol (SBP), an environmental organization, believes that mention is a positive sign that Bitcoin has ceased to be considered “magical money from the Internet”, to formally enter global economic frameworks as real capital.
Contrary to Daniel Batten, who was combative against the IMF for comparing the electrical consumption of Bitcoin mining with that of Argentina, SBP interpreted the mention of the IMF to Bitcoin as a positive event.
«The IMF has just officially classified BTC as a capital asset not produced, as well as land, art or natural resources. It is not about emissions, it is economics. Because BTC uses energy, they had to include it in the SNA, it is the reason why the new standards mention it, ”said SBP.
Through its official X account, SBP said that the IMF recognizes that BTC cross -border flows must be registered in economic statistics, and that activities such as mining and staking should be treated as exportable services.
According to the organization with environmental concerns, this type of categorization represents an institutional turn: it implies that Bitcoin is not only observable at the macroeconomic level, It begins to occupy an accounting place in statistical architecture that supports regulatory decisions.
Like Daniel Batten, SBP considers that the comparison with Argentina is misleading. As Cryptonoticias reported, that one summoned on July 31 to the IMF, saying that “a large part of Bitcoin’s energy consumption often comes from stranded and wasted sources that others cannot take advantage of”, a fact that It would be essential to understand the energy cost of the Bitcoin industry.
However, the environmental organization ensures that you have to go beyond the comparison and observe the complete picture.
Although the report indicates that Bitcoin and its mining do not generate conventional goods or services, the fact that the IMF It includes them as a relevant phenomenon in its new methodological guides represents a tacit validation of Bitcoin’s economic role.
Yes, Bitcoin increases the global energy demand, it is not an attack to say that BTC (and AI) mining could reach ~ 2% of the use of electricity by 2022 and increase to 3.5% by 2027. Although it is misleading to compare the use of BTC energy with Argentina, it does not label Bitcoin as harmful, it simply recognizes its tangible impact. Bitcoin has the potential to be the most transparent and sustainable asset in the world, the use of market data and incentives will help to make this possible.
Sustainable bitcoin protocol, environmental organization.
«To the critics of energy: they are pointing the footnote. We are looking at the context, ”said SBP in X.
Sustainable Bitcoin Protocol is an initiative that seeks to connect BTC mining with global climatic objectives. Its main mechanism, the substantable Bitcoin Certificates (SBC), verifies the use of clean energy without compromising the fungibility of the asset or its traceability. The proposal allows institutional investors to incorporate sustainability criteria in their Bitcoin holdings, under external audits and internationally recognized environmental standards
