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That gives me a foundation now that I could take off and build on top of. A lotta people see all of these cryptocurrencies and they go, "One of these things can make me free." With Bitcoin, I could pass it down generation, for generation, for generation. When people realize how they can get free, people will do things to try to get more free. Wilson: The thing about freedom is that it spreads quickly. But he says he truly believes Bitcoin can help bring about greater freedom for Black folks. Lee: This show is sponsored by some companies that deal with crypto, like CashApp. We're gonna talk a little bit about Bitcoin today. If you wanna jump in, make sure you come to Clubhouse right now to the Black Bitcoin Billionaire. Wilson: What is goin' on? What is goin' on? It's your boy, Big 'Mar.
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They are true believers that crypto could be the key to Black liberation. And some Black crypto users, like those at the rally, aren't just talking about making a quick buck for themselves. Because for as long as we've been in this country, whether through violence or racist policies, we've been mostly shut out of the nation's financial systems. But it's not surprising that this new currency might sound appealing to Black folks. Lee: Now most Americans are still trying to understand the concept of cryptocurrency. Jared Ball: The idea that this is a pathway towards Black liberation or the liberation of any other community is an extension, it's a rebranding of an old, Black, capitalist mythology. And some are pushing back on the idea that digital money is the answer to the Black community's wealth disparity.ĭr. They say cryptocurrency is volatile, and risky, and isn't backed up by the federal government if it fails. Lee: Now there are plenty of skeptics out there. Almost a quarter of all Black adults say they already own some cryptocurrency, compared to just 11% of white Americans, according to a Harris poll that surveyed 2,000 people last year.Īrchival Recording:: Eric Adams pledging to take his first three paychecks in Bitcoin. The data show that Black and Latino Americans have invested in these digital currencies at higher rates than other groups. Lee: These activists represent a sizable part of the crypto community. It is time for us to take our finances into our own hands. And we've gotta understand that it is time to get self-sovereign. Lee: Speakers at the rally talked about the potential this new technology could have on the communities that have long been kept out of traditional banking, investing, and wealth accumulation.Īrchival Recording:: And the reason I'm so passionate about this is because if we don't do it, nobody is comin' to save us. We have got to do somethin' different or we're gonna get and continue to get what we've always gotten.
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Archival Recording:: It is time out for the same thing we've doin' the last 157 years.