Tesla, the black sheep of finance? – Tesla’s recent investment didn’t just drive up the price of Bitcoin. Some see it as a harbinger of the bankruptcy of the global monetary system. The risk of seeing the biggest companies opting for digital currencies to protect their valuation hovers over the hegemony of the fiduciary system, as well as over fundamental freedoms.
At the top of the pyramid, anxiety is palpable…
Brian Brooks, the outgoing head of the Office of the Comptroller of the Currency (OCC), is taking advantage of his « freedom » to lead the charge. The latter reveals a real tension around questions of freedom and legitimacy to force them, and he does not mince his words.
In the highest spheres of power, the cryptomonneries, led by King Bitcoin, are said to be perceived as increasingly credible competitors of state currencies, pointing to them as a detrimental challenge to state sovereignty in monetary matters, and much more besides.
The insurgency that’s coming
The same Brian Brooks also worries about the rising politicization of technology, referring more specifically to the latent challenge to public authority palpable in recent episodes of the invasion of the capitol, but also the censorship of Twitter accounts or the « moral » blocking of certain transactions by VISA.
Europe is not to be outdone. Between calls for binding legislation, and the planned broadcast of a Euro-digital, the heart of the old continent is swinging.
If it is imperative to preserve individual freedoms, should we nevertheless entrust our monetary future to private interests, which will only ever have a consideration for the citizens that is proportional to the money they entrust to them?
Tesla has truly brought Bitcoin into the big league with its colossal investment. Now, with the financial giants who can’t help but tremble, will cryptomoney finally be accepted in the future as a reliable currency that can be used on a daily basis?