TechnologyMonday 03.28.22

Could Bitcoin Be A Game Changer For The Black Community?

Despite making up 13.4% of the U.S. population, Black Americans hold just 4% of total household wealth. Decades upon decades of racist government policies and loan practices have put African Americans at a serious disadvantage for building generational wealth. Now some in the Black community are turning to cryptocurrencies like Bitcoin to stake a claim in their financial future. Educators like Isaiah Jackson and Najah Roberts say that Bitcoin’s low barrier to entry is a huge reason why so many in their community are taking advantage of this “digital gold.” They say deceptive practices like redlining and accredited investing don't exist with Bitcoin because, as Roberts argues, “Bitcoin is for everyone.” Cryptocurrency is not without its critics, however, and many say it’s just another Ponzi scheme that should be avoided at all costs. Yet as Jackson and Roberts explain it, the secret is in education and that it’s all about playing the long game.

The Daily Recount

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