Moritz Schmidt's donation of 1 million euros ($1.2 million) to the Greens made headlines this month, as the party traditionally receives only small sums. Parties in the country receive most of their funding from members' dues and state aid linked to election results. Since then, bitcoin and other cryptocurrencies have repeatedly surged and slumped on investors hoping to turn a quick profit. Schmidt, who made about 2 million euros gradually selling his bitcoin over the years, said he learned in 2017 that the virtual currency consumes a vast amount of electricity. The Greens nominated 40-year-old lawmaker Annalena Baerbock as their candidate Monday to succeed long-time conservative leader Angela Merkel as chancellor in the Sept. 26 election.

Source: Mint April 24, 2021 16:13 UTC