Ade Adepitan presents a new Channel 4 documentary on the recent cryptocurrency boom
Around three million Brits have invested in cryptocurrency, and since bitcoin was launched in 2009 it has seemed like an easy way for many to make a quick profit.
But in recent years, the cryptocurrency has become notorious for its instability and unpredictability, with some investors losing small fortunes almost overnight.
With growing concerns about cryptocurrency profitability and the environmental impact of crypto mining, Ade Adepitan sheds light on the world of digital currencies.
What is cryptocurrency?
Cryptocurrency is a digital currency that is not tied to a central authority such as a government or bank.
Cryptocurrency is an umbrella term for many different digital currencies, the largest of which is bitcoin.
Other cryptocurrencies include Tron, Ethereum, Tether, and Dogecoin, and they all fluctuate in value.
Your corner shop probably won’t accept cryptos as payment, but some large companies now accept multiple types of cryptos.
Amazon, Microsoft, Starbucks, and Paypal are among the companies accepting crypto for some services.
Since cryptocurrency is decentralized, it is not stable and the value of different cryptocurrencies rises and falls frequently.
For example, Dogecoin, a cryptocurrency based on an internet meme, was worth £0.46 per coin in May 2021, but today it’s worth £0.059 – a nearly 90% drop in value.
Bitcoin, the most popular cryptocurrency with around 180 million users worldwide, rose in value from £600 per coin in December 2016 to £48,000 in November 2021 before falling back to £19,000 today.
Is cryptocurrency bad for the environment?
Cryptocurrency has a significant carbon footprint due to the way it is manufactured.
Crypto is “mined” using sophisticated computer hardware to solve complex mathematical problems – it takes a lot of energy.
The US is responsible for more than a third of all Bitcoin mining, and this results in the production of more than 18 million tons of carbon dioxide every year.
What is cryptocurrency: has the bubble burst? around?
The documentary explores the cryptocurrency phenomenon and how it has gripped many UK investors.
Ade Adepitan explores how cryptocurrency works, the risks involved in investing in new digital currencies, and whether the crypto boom is over.
In 2021, it was reported that Bitcoin alone had a carbon footprint comparable to that of the entire population of New Zealand.
Who is Ade Adepitan?
Ade Adepitan is a television presenter and wheelchair basketball player who competed in the Athens 2004 Paralympic Games.
Adepitan participated in the documentary series Beyond Boundaries where he trekked through rainforests, deserts, rivers and mountains in Nicaragua.
He was one of the main presenters on Channel 4 of the London 2012 Paralympic Games and has presented several documentaries for the channel including Britain on Benefits.
Adepitan’s other documentary work includes presenting New York: America’s Busiest City, the World’s Busiest Cities and the Changing Planet.
He has also appeared on the game shows Tipping Point: Lucky Stars, Blankety Blank, Celebrity Catchphrase, Pointless Celebrities, House of Games, and Celebrity Chase.
When is cryptocurrency: has the bubble burst? On TV?
The one-off special documentary will air Tuesday 9 August at 10pm on Channel 4. It will be available on All 4 shortly after it first airs.