Bitcoin and other crypto assets are tipping the established balance of power.
One of the most intriguing aspects of Ayn Rand’s Atlas Shrugged is that the novel’s protagonists actually have great wealth and thus, the power to really change the world. It was precisely this wealth born of value creation that allowed Rand’s heroes to leave behind their booming industries and establish Galt’s Gulch. And by doing so, our heroes instigated the formation of a new society, one that valued individualism, entrepreneurship, and decentralization.
While Atlas Shrugged may be a work of fiction, the rise of cryptocurrency has presented a new opportunity for real-life heroes to truly enact change.
Crazy Libertarians and Their Bitcoin
Over the last several years, and especially over the last few weeks, I have watched some of my closest friends become abundantly wealthy as a result of crypto investments. And while I could not be happier for their financial success, there is something deeply significant about this newfound wealth.
As Bitcoin grew to become a household name over the years, articles were written cautioning against this burgeoning cryptocurrency. But the concern was not necessarily with Bitcoin itself, or even blockchain; it was about the people who are naturally attracted to such technology.
In 2013, Forbes wrote about “crazy libertarians” flocking to Bitcoin. This sentiment was echoed by the CEO of Reddit in 2014 when he said, “The user base for Bitcoin is basically crazy libertarians.” And of course, economist Paul Krugman has routinely warned that this new technology is “evil” specifically because its primary users were eager to find ways to bypass the Federal Reserve and the United States’ disastrous monetary policies.
And while it may be true that your friend who just made a million dollars from Bitcoin also frequently dons an “End the Fed” t-shirt, this is hardly a cause for concern. On the contrary, it is a cause for celebration.
For decades, many liberty enthusiasts have dedicated themselves to academia, think tanks, or grassroots activism. And while each of these roles is essential to spreading the precepts of liberty, they do not often come with outrageously high salaries.
There is absolutely no shame in choosing to pursue your passions rather than to seek only financial gain. But there is also no shame in choosing to do both.