“Bitcoin Bet Pays Off for the Racist Right”
Who listens to an argument like this and takes it seriously?
Campus Reform reports:
Professor links Bitcoin to ‘far right’ nationalists. Expert Peter McCormack discusses why that might be wrong.
Elon University professor Megan Squire recently teamed up with Southern Poverty Law Center spokesman Michael Edison Hayden to publish an article linking the world’s first and largest cryptocurrency, Bitcoin, to the rise of “[W]hite nationalism.”
According to their analysis piece, “White supremacists embraced cryptocurrency early in its development, and in some cases produced million-dollar profits through the technology, reshaping the racist right in radical ways, a Hatewatch analysis found,” the writers’ Dec. 9 article states.
The online analysis piece also contains a graphic, “Bitcoin Bet Pays Off for the Racist Right,” which details the amount of Bitcoin sent and received by prominent figures that identify as “Alt-Right.”
“A significant number of people who started in libertarian online spaces” began to support “the pro-fascist ideology of the ‘alt-right’ movement during the rise of Trump,” Squire and Hayden write.
The article notes that many of the early adopters of Bitcoin are alleged “white nationalists” and “far right” extremists.
Campus Reform asked Squire why only right-wing extremist groups were represented in the article and if this phenomenon is observed with other ideological extremist groups.
“This article was for the Southern Poverty Law Center’s Intelligence Project, so we focused on groups and individuals that are of interest to that organization: those who promote hate, bigotry, and extremism,” Squire replied.
A common concern within the Bitcoin community is the impending collapse of the US dollar, as well as the financial and authoritarian impacts the central banking system has had on humanity. The article links these concerns to anti-semitism, noting a “Neo-Nazi” publication that accepts Bitcoin donations so they can “can continue to fight the Jew-owned banking empire.”
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