MORGAN STANLEY: Bitcoin could use more energy than Argentina this year

Bitcoin mining could use more electricity in 2018 than Argentina, Morgan Stanley said in a note to clients Wednesday. It could also use more energy than electric vehicle power demand in 2025.
The cryptocurrency could make up 0.6% of the world’s consumption in 2018 and force utility stocks to adapt. Energy needed to mine bitcoin could be more than is used by the entire country of Argentina in 2018, Morgan Stanley said in a note to clients Wednesday.
"We project this consumption to