Do you know what black American’s prefer to be in financial freedom? It is none other than BitCoin! Yes, Cryptocurrencies are the best way to achieve financial freedom and Black Americans’s doing it right!
Bitcoin is threatening the government and the institutions through its high familiarity among Black Americans. Capital controls may go uncontrolled, the impossible may happen, financial terrorism or might make people go without financial knowledge. Even though these fears are haunting, people still believe in Bitcoin for their financial freedom, especially Black Americans.
We might say that even though there is discrimination of colors, there won’t be any discrimination in financial freedom.
Is the dominant system, feudalism through Bitcoin?
Cryptocurrency has a stronghold on peoples’ minds and is in favor. This is because the central banks have failed to deal with the regression and the inflation caused by the country’s currency. The nepotism and corruption at the bank level have made people turn on Bitcoin for an alternate source of income.
This has to lead many political figures to be harsh on Bitcoin and opposition is in the air. The former finance minister of a country notified that the early adopters of Bitcoin are on feudalism regarding Bitcoin and if it replaces the fiat currency, the fiat currency will have to face great damage.
On checking the positive side of cryptocurrency, even some countries have announced releasing their country’s digital currency after the great success of Bitcoin.
Many of the countries are now re-investigating the central bank currency philosophy and like to change the situation to fight with Bitcoin. They are now more active on fiat currencies to make them secure and environment-friendly.
The European Central Bank, which took action on releasing the digital currency stressed the point that the value of the digital euro will be less than that of Bitcoin. In Asian countries also the war between fiat and crypto is going on. This is why the China government has kicked out cryptocurrency in a fear of losing financial control.
Things got worsen when Bitcoin has seen a huge rise in May over the business lines. Some great figures in the cryptocurrency have abandoned the major ones when they heard the business giant JPMorgan of market crash for a long time.
According to Sen. Elizabeth Warren, the US cryptocurrency regulations should be on tables by July 28. In the letter to the U.S. Securities and Exchange Commission (SEC), she said that the crypto has seen a boom in trading at the money market.
The Bitcoin boom
Despite the strong opposition and hatred on cryptocurrency, some outspoken advocates of Bitcoin defending the opportunity cryptocurrency is bringing in the ecosystem.
The massive rise of Bitcoin is magnificent. Since its inception in 2009, Bitcoin has been valued for its great community and belonging. The intensive publicity has adopted Bitcoin but not by any governments.
People who are adamant about their faith in Bitcoin have seen their future in it. The ultimate commitment of Bitcoin followers is creating the best relationship among religions. People have started to worship the creator of Bitcoin and the Bitcoin system.
The ongoing central bank corruption has made the early adopters of Bitcoin protest against the government monetary policies. Bitcoin may bring a new system in money socialism unlike those corrupt systems of central banks.
Economic sustainability for desirable social and economic existence
The black community in the US has realized that the bank currencies cannot help them in the pandemic and this is why most of them opted for cryptocurrency. Many scholars opined that the government should improve the quality and policies of the central bank to retain their customers.
The black community in the US has discovered the huge income from Bitcoin and adapted the same as many crypto scholars have done. Entrepreneurs have now leaned towards economic freedom and for that, they have chosen cryptocurrencies which can be a foundation stone for the future generation.
According to a survey, among the black business owners who opted for the business aid finance, only 26% got what they asked for and the rest of them didn’t get anything. This is why their faith in the government finance system has moved and made them suffer.
The inequality in the US for blacks has made them suffer which is is why they are now looking for something else which can achieve financial freedom for them. Many of them now believe that Bitcoin can fix this issue of inequality.
By saving money in the banks didn’t do good to them. This is why the black community is interested in cryptocurrency. Some familiar faces in crypto believe that Bitcoin will make history by its finance and technology to ensure Economic sustainability in the black community in the US.