Forbes Chairman: Bitcoin Great At Combating Authoritarian Governments
While Bitcoin has assumed many mantles over the years — digital gold, magical internet money and a currency for criminals, just to name a few — it has always been seen as a way out of the corrupt facets of the traditional world, be that overreaching governments or fraudulent economies.
Steve Forbes, the Chairman of, well, publishing giant Forbes Media Group, recently threw his weight behind this facet of Bitcoin’s value proposition — proving that not all those entrenched in the realm of traditional
finance believe that cryptocurrencies are a full-blown scam.
On Sunday, ARK Invest, a fintech investment advisor known to be pro-crypto (amongst other technological trends), released its latest podcast episode. While the installment, which had Steve Forbes as a guest, focused on traditional markets, Trump’s policies, and the evolution of media, ARK Invest threw a curveball towards the end of the podcast.
Concluding the episode, Cathie Wood, chief executive of ARK Invest, asked Forbes about his thoughts on cryptocurrencies, especially Bitcoin. Surprisingly, Forbes bit.
The Forbes editor-in-chief argued that Bitcoin is a “high-tech cry for help”, before going on to briefly touch on the growing mistrust being placed in governments and their currencies:
“In the meantime, Bitcoin has performed a very important role in helping people in distressed situations around the world: getting around governments (institutions, really) that want to control you, starve you, and hurt you.”
While he did give the leading
cryptocurrency the classification as a tool against high-level corruption or irresponsibility, the media guru did admit that the challenge for Bitcoin and their ilk is that they need to become as trustworthy as the classical hard, non-sovereign money gold. This, he claims, can be accomplished by ensuring that Bitcoin is an unhackable system and becomes an asset with much less volatility than it has now.