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CondadoKing
May 22, 2024

Blacks have long suffered from the legacy of slavery, Jim Crow, segregation, red lining and other forms institutionalized discrimination. While most of the active institutionalized racism has long since ended, its effects still linger. One such lingering effect is that Blacks have access to far less capital than whites. While there are many reasons for that, it’s disengenuous to contend that the lingering effects of discrimination aren’t among them. That’s one reason why I’m really, really, really excited about blacks being overrepresented in bitcoin and crypto. Fully a third of US blacks own bitcon/crypto today, which is more than double the national average. Crypto is the future of capital. Within the next 15 years, Bitcoin alone will likely be worth at least 100 trillion dollars, or about 100X what it is today. Many blacks who have taken these early crypto positions will, if they hold them, become millionaires. Some even billionaires. And I think it would be a great thing for blacks to be overrepresented among crypto millionaires/billionaires. That would do much to counter the lingering effects of past discrimination and give blacks more equal access to capital.

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