Bitcoin Use is BULLISH for Coal and Oil (Forbes ARTICLE)See article below from Bill Gates who talks about the increased use of electricity for bitcoin mining. And this energy is primarily consumed in China because bitcoin mining is widespread in China. And China mainly uses coal to produce electricity. However, China is working to reduce its coal consumption, and the second fossil fuel for electricity production in China is oil. Therefore, it's easy to realize that bitcoin use is very bullish for oil demand from China and oil demand globally. See the full article:
FORBES: Bill Gates Sounds Alarm on Bitcoin's Energy Consumption Must-read article.