Abstract
In this study, we investigate the dynamic relationship between physical climate risks and Bitcoin's energy consumption and carbon footprint, focusing on cryptocurrency environmental performance. Our research represents the first endeavor to examine the predictive role of natural disasters and global warming in shaping cryptocurrency environmental attention and Bitcoin's ecological footprint, utilizing the Bayesian TVP-SVAR-SV model. The results reveal a significant increase in Bitcoin's energy usage before 2018 and emphasize the crucial impact of cryptocurrency environmental attention in mitigating Bitcoin's carbon and energy footprint. These findings carry substantial policy implications for both investors and policymakers.
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