Bitcoin (BTC-USD), the premiere digital currency first introduced in 2009, raised eyebrows this week when it dropped below $40,000 for the first time in three months, stoking fears of uncontrolled volatility. But by Wednesday, the coin’s price had risen back to $43,000 and many financial leaders are predicting Bitcoin to surpass $75,000 before the year ends.
The quick recovery proved to many crypto enthusiasts that Bitcoin is here to stay. Now, some investors are highlighting Bitcoin for the opportunity it presents at leveling the playing field, particularly for Black Americans, many of whom have been disadvantaged by traditional banks for decades.
“Bitcoin je apsolutno alat za socijalnu pravdu”, rekla je za Yahoo Finance Charlene Fadirepo, bivša menadžerica revizije u Odboru guvernera Federalnih rezervi koja je postala savjetnik za Bitcoin. “Ako razmišljate o crnim Amerikancima, vjerujemo da Bitcoin omogućava [nam] da izgradimo generacijsko bogatstvo. I ne samo crni Amerikanci… Latinoamerikanci, LGBT zajednice i starosjedilačke zajednice. To omogućava zajednicama da izgrade bogatstvo u zajednicama koje su izostavljene iz diskriminatornog bankarskog sistema koji imamo danas.”
Fadirepo called 2021 a “breakout year” for Bitcoin, noting that major banks had had high-net-worth clients invest in it and large corporations have begun accumulating Bitcoin and holding onto it as an asset. At least seven major banks, including CitiGroup, JP Morgan & Chase and Morgan Stanley, have made large investments in Bitcoin.
“Velika slika je tako svijetla za Bitcoin”, rekao je Fadirepo, koji je 2019. osnovao Guidefi, fin-tech platformu koja ima za cilj da olakša ženama i profesionalcima u boji da pronađu svoje idealne finansijske savjetnike. “Ako pogledate Bitcoin na 10-godišnjoj osnovi, oni su imali godišnji prinos od 200%, a ako pogledate Bitcoin u posljednje dvije godine ove ere pandemije, Bitcoin je imao povrat od 400%. Zlato je imalo prinos od otprilike 15%, a S&P 42%. Dakle, to su nevjerovatni prinosi za bilo koju vrstu imovine i nevjerovatni prinosi za Bitcoin.”
“You saw the FDIC and the Fed work together for inner-agency guidance and we expect to see more and more movement and more regulatory clarity,” she added. “And as we know when regulatory clarity is here, that builds trust, that builds security and that will encourage more people to invest and hopefully more institutions to invest.”
Many marginalized Americans see Bitcoin, and the bigger umbrella of cryptocurrency, as a chance to finally control their own success in the future, absent any kind of government intervention.
“What we really need to be doing is to now utilize the technology behind blockchain to enhance the quality of life for our people,” Christopher Mapondera, co-founder of BillMari, the largest Pan-African Bitcoin wallet provider using blockchain technology, told TIME last fall.
Nakon 400 godina ropstva u Americi i decenija borbe za građanska prava, rasni jaz u bogatstvu u SAD-u je i dalje oštar. Prema podacima Federalnih rezervi iz 2019. godine, srednja neto vrijednost prosječnog bijelog domaćinstva bila je 188,200 dolara, skoro osam puta veća od vrijednosti prosječnog crnog domaćinstva od 24,100 dolara. Nesrazmjeran pristup kreditima i zajmovima, generacijski efekti redlininga i nedostatak banaka u crnačkim zajednicama igrali su ulogu u jazu u bogatstvu.
Progress towards equity in these arenas for the most disadvantaged communities has been slow, but many Black Americans see crypto as a prime opportunity to course correct. In fact, a recent Harris poll found that nearly one in four Black Americans owns cryptocurrency, outpacing any other race in America, including white Americans 3 to 1.
Brandon Buchanan, founder and managing partner of Meta4 Capital, a crypto-focused investment management firm, is one of the leading Black crypto investors that sees promise in the space.
“Black people in particular are very connected to culture,” Buchanan told Yahoo Finance last month. “If you think about the internet and you think about memes, all you have to do is check the vernacular. Check what’s happening in culture and music and certainly Black folks are on the front foot of that.”
Fadirepo ultimately believes women of color, especially Black women, will lead the Bitcoin revolution when all is said and done.
“Women of color are the fastest group of entrepreneurs in the country,” she said. “We are so focused on taking women from financial health to financial wellness to hopefully financial independence and … we believe that Bitcoin and investing in Bitcoin is going to be a huge part of that story for the average Black woman and the average woman of color.”
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Source: https://finance.yahoo.com/news/bitcoin-tool-for-social-justice-ex-government-regulator-turned-crypto-adviser-123417764.html