Why cryptocurrencies are, for some, the defining political issue of our time

But I also understand why people like Selkis advocate cryptocurrencies for political purposes. In reality, they are simply realizing that cryptocurrency was already a partisan issue and acting accordingly. We often hear that the industry itself is apolitical because blockchain strives to be “reliably neutral.” However, this is not true. Cryptocurrency is a check to the government. It is and always has been a political project. As I wrote in 2021:

“If Bitcoin solves the climate crisis, it will do so through successful, free markets, not progressive initiatives. Bitcoin will never solve economic inequality if it expands access to basic financial services. The massive holdings of early Bitcoin users cannot be redistributed without destroying the system’s technically protected property rights. “If Bitcoin prevents war by weakening state power, the progressive welfare state will also be dismantled.”