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The White Supremacist Love Affair with Crypto

An ugly side to Bitcoin

Racists are not only terrible human beings, but they also tend to have something wrong with them — you know, in the brain. Which is why it's annoying to hear that famous racists like far-right pundit Stefan Molyneux and hacker-troll Andrew "Weev" Auernheimer had the foresight to cash in on Bitcoin, while the only crypto I ever owned was squandered buying Ritalin for a story I was writing about The Silk Road almost a decade ago. (After buying some pills I had ₿7 left over, which I promptly lost — if I had that today, it would be worth just shy of $50k.)

A recent Hatewatch analysis of over 600 cryptocurrency wallets associated with far-right-wing and racist extremists found that this cohort invested in the digital assets early and often — turning an estimated total profit of tens of millions of dollars (at the very least).

Perhaps I shouldn’t feel so bad, since I’m not alone among non-racists who have somehow missed the cryptocurrency train:

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Less than a quarter of Americans presently own some form of cryptocurrency as of May 2021. But those numbers increase substantially within fringe right-wing spaces, according to Hatewatch’s findings, approaching something much closer to universal adoption. Hatewatch struggled to find any prominent player in the global far right who hasn’t yet embraced cryptocurrency to at least some degree. The average age of a cryptocurrency investor is 38, but even senior citizens in the white supremacist movement, such as Jared Taylor of American Renaissance, 69, and Peter Brimelow of VDARE, 73, have moved tens of thousands of dollars of the asset in recent years.

There is also an ideological angle to cryptocurrency adoption among the far-right: many see it as a way to keep money out of the hands of the “international banker” (which, as you well know, is an antisemitic dog whistle for Jew).

It isn't hyperbole to say that cryptocurrency in some way revolutionized contemporary white supremacy, making a whole generation able to afford to fight multiculturalism and social justice — and live comfortably doing it.

SOURCE: Hatewatch