Bitcoin & Economic Justice

Bitcoin and Economic Justice

Then Jesus entered the temple and drove out all who were selling and buying in the temple, and he overturned the tables of the money-changers and the seats of those who sold doves. He said to them, ‘It is written,


“My house shall be called a house of prayer”;


    but you are making it a den of robbers.’

-Matthew 21:12-13

Unlike our present day financial system that privileges those depending on citizenship, wealth, race, gender and other societal categories, Bitcoin is a monetary system that has the same rules for all people that use it. Bitcoin enables inclusive economic activity from small circular economies to global money transfers and trade. Bitcoin's lightning network has created the ability for people to send payments to one another in fractions of a second with virtually no cost.

Multiple times throughout the Bible God becomes angry with people, religious leaders and governments that exploit the poor. Jesus violently protested the unjust financial system of his day, as well as taught about the importance of caring for the most vulnerable in society.  

The existing economic system is making the rich richer, and the poor poorer. This is felt in multiple ways and in varying magnitudes depending upon where one lives and works. This process has accelerated since 1971 when the US government removed the US Dollar entirely from a Gold standard.  

Governments and people in the developing world are crushed by compounding financial debts created by banks and governments in the developed world. This unequal financial relationship between governments in the developed and underdeveloped world compounds inequality and unjust resource extraction from the underdeveloped to the developed world. 

Bitcoin is the most ethical version of currency that exists at scale to facilitate economic activity. By integrating Bitcoin into how church economies function as well as do ministry in the community, Christians are choosing to not use our existing monetary systems that are designed to exploit our local and global neighbors and communities.

Many justice issues are intersectional. People and communities experience multiple discriminations that fall within these different intersectional justice categories. Part of what makes Bitcoin such a powerful tool for ministry is that it addresses justice issues in intersectional ways. Be sure to check out all the intersectional justice issues to see how they overlap.