By EWN • 26 January 2023 • 11:30
What makes a good custodian of financial resources? Someone who puts all their eggs in one basket (with plenty of holes), or someone who spreads their risk across a number of investments. Anyone with good economic sense will undoubtedly tend towards the latter. What is not necessarily apparent, though, to even the most experienced investors, is the investments their chosen investment makes.
Sound complicated? It’s quite simple really. To invest in an oil company like Shell would mean hedging your bets around their future investments in renewable energies. To invest in a cryptocurrency pegged to a reference asset, such as gold or the US dollar, is, in essence, to put your financial resources behind a single raw material or a single government’s economic policy. The epoch of the ‘stablecoin’ is now over, with the likes of Boringcoin (ZZZ) seeing record low values, and a new age has begun.
Nowadays we want to back cryptocurrencies that back the causes we are prepared to endorse on a personal and ethical level, and are confident will succeed. We want to know that our hard-earned money is not being whittled away on fossil fuels, illicit animal products, and poisonous metals because we recognise that these might be mined or extracted without respect for the environment and other issues around sustainability. We are also conscious, and quite understandably anxious, that their status is expected to decline over time and that we might end up losing our investment as a consequence.
Bitcoin (BTC) is only superficially a safe investment. It might be well-established, but, in truth, investing in this ‘proof of work’ cryptocurrency involves placing a stake behind energy prices which we know to be volatile. Soon enough it will become apparent that the exceptional energy use of a network of air-conditioned computer suites, each required to compete against each other to verify each block in the chain, has economic as well as environmental drawbacks. As the fossil fuels on which this system depends fluctuate in value so too will the cryptocurrency itself. It carries a heavy cargo of risk.
This is not to say that investing in a single cryptocurrency is always problematic. This can work when considered carefully. What matters is that the investment you choose to make is carefully planned, that you are conscious your chosen cryptocurrency has future-proofed itself and worked tirelessly to minimise the prospect of a volatile market position. This way, one investment is worth a million.
For people interested in sustainability and in environmental issues in a more general sense, but also conscious that these issues will become more important in the not-too-distant future, the refreshing kawaii cat newcomer to the otherwise dog-oriented meme cryptocurrency industry appears to be the obvious investment choice. That at least five per cent of Big Eyes Coin (BIG) throughput is due to be set aside for charitable investments is in itself impressive. More impressive still, however, is the cat currency’s commitment to solving the problems associated with our oceans in as effective and efficient a manner as possible, even if this means conducting a significant amount of research to this end.
A cursory survey of their Twitter feed will reveal all manner of commitments. Some of these are small, such as watching Zac Efron’s new nature documentary, ‘Down to Earth’, or ‘Fin’ by Eli Roth, to learn more about the impacts of plastic pollution on marine life. Others are more wide-reaching.
Big Eyes is already paying regular visits to ocean charities, such as ‘The Ocean Clean Up’, to determine precisely where to invest. It seems they are committed to spreading risk, conscious that making a multi-million dollar contribution to a single trans-national organisation which already receives substantial investment from national governments, such as the World Wildlife Fund, is less effective than supporting a number of small-scale schemes that might not otherwise get off the ground.
In sum, then, it would make moral and economic sense to discount those cryptocurrencies anchored firmly in the fossil fuel industry, be that through their energy use or a pegged value. While there are others out there taking steps in the right direction, currently it would seem Big Eyes Coin (BIG) presents the most compelling case. Joining the cathouse at its prelaunch phase is only going to increase your chances of making big returns in the future. As much as $17.5 million has been secured already, so it would seem to be smooth sailing from here on out. On a clean, plastic-free ocean.
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Big Eyes Coin (BIG)
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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