Colloquium: Dr Marcus Dapp

This talk will explore the growing significance of Bitcoin as a topic at the intersection of science, technology, and public policy. Two recent developments underscore Bitcoin’s increasing relevance for policymakers, researchers, and industry leaders.

First, the issuance of Executive Order 14233 by US President Trump on March 6, 2025, has generated considerable attention both within and beyond the United States. Among several measures aimed at easing regulatory pressures on the domestic crypto industry, the establishment of a “Strategic Bitcoin Reserve” is particularly noteworthy. This policy innovation marks a clear differentiation between Bitcoin and other cryptocurrencies, and may catalyze a first-mover—or even winner-takes-all—dynamic in nation-state level adoption of Bitcoin given its particular network effects.

Second, the environmental impact of Bitcoin has been a persistent source of criticism, largely centered on the network’s substantial electricity consumption. However, this discourse often overlooks two fundamental aspects. The first is the role of mining in securing a global, decentralized, and state-independent monetary network—an ambition that necessitates robust defense mechanisms, which in Bitcoin's case is energy expenditure. The second is the emerging evidence that Bitcoin mining can contribute positively to climate change mitigation, through mechanisms such as incentivizing renewable energy development, reducing methane emissions, and supporting grid stability.

The talk will conclude by inviting the audience to critically engage with Bitcoin as a subject of rigorous academic inquiry, and to consider its implications for science and technology policy in an era of rapid digital transformation.