Austrian economics dominates the discourse on bitcoin, but it is not the only heterodox economic theory that describes the importance of a type of money that sounds strikingly like bitcoin. Aspects of degrowth and ecological economics promote an end to fiat and inflationary currencies. While we often focus on the benefits of bitcoin mining for the current energy transition away from fossil fuels, bitcoin has an even more important role to play in transitioning our societies to a sustainable and more equitable world.

Bitcoin’s energy consumption is both trivial and not trivial at the same time. The network consumes less than half a percent of the world’s electricity consumption. Some…

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