Ripple CEO Brad Garlinghouse thinks corporations converting greenbacks to Bitcoin (BTC) could be making a costly mistake every bit a more environmentally-witting Biden administration takes the White House in January.

Garlinghouse tweeted Monday that the incoming president will exist much tougher on climate change, requiring that all publicly-traded companies disclose their greenhouse-gas producing activities. He singled out Foursquare as ane company that "may want to pay attending" to new federal guidelines that could get rolled out equally before long as Biden takes office.

Garlinghouse's comments piggyback off an earlier tweet from NYT Politics, which outlined some of Biden's proposed measures on climatic change, including rejoining the Paris Agreement and signing executive orders to curb emissions. President Trump withdrew from the Paris accord in 2017 over allegations that the pact would harm the U.S. economy.

Foursquare fabricated headlines final month by adding 4,709 Bitcoin to its balance canvas. At the time of the purchase, the newly acquired Bitcoin deemed for roughly 1% of the payment company's available greenbacks on hand.

In August, mid-cap applied science company MicroStrategy said information technology had made Bitcoin its new reserve currency by purchasing $250 million of the digital asset. The business intelligence firm has since increased its holdings to 38,250 BTC — worth roughly $590 meg at the time of writing.

Garlinghouse lauded MicroStrategy's crypto play in August, simply appears to take shifted his opinion following the presidential election. Ripple's "sustainability of money" narrative appears to gel with the concerns of the incoming Biden assistants. It is as well used to showcase XRP's supposed superiority over Bitcoin'southward resource-draining proof-of-work consensus.

Ripple claims that, for every 1 one thousand thousand transactions, its XRP token could power 79,000 lightbulb hours compared with Bitcoin'due south 4.51 billion lightbulb hours. The company thus claims XRP to be 57,000 times more efficient than Bitcoin.