I believe people have liberty in Christ to own bitcoin or other cryptocurrencies if they wish to do so.  If you bought bitcoin or other crypto before its price exploded, and you made a lot of money, I am happy for you.  However, I am staying away from it.  These are my reasons, as a Christian, to stay away from cryptocurrency.  (This article is my opinion, protected by the first amendment, not official financial advice.  I am not a financial advisor.)  This post is just the bullet points. The entire article can be read by clicking here:  Read “Cryptocurrency: A Christian, Bible-believing perspective” here.

1.) Cryptocurrency does not actively do good.

If one invests in the Christian mutual funds associated with the Eventide family of funds, he is investing in many companies that are not only attractive investments but also actively are doing good things.  At best, if one buys and holds bitcoin or other crypto, what he has purchased just sits there.  It does not do anyone any good.

2.) Cryptocurrency is very frequently used to actively do evil.

There is substantial evidence that a high percentage of cryptocurrency is used by evil people to do evil things, whether funding drug cartels, supporting human trafficking and pornography, supporting terrorist organizations, engaging in money laundering, assisting rogue regimes to evade sanctions, and the like.

3.) Cryptocurrency lends itself toward speculation, not rational investment.

I can’t explain why bitcoin should be priced at $20, $200, $2,000, $20,000, $200,000, or $0 a coin.  I can’t give you a reason why in thirty years bitcoin is likely to continue to appreciate in value, rather than becoming worthless.

4.) Your cryptocurrency can easily vanish.

If you lose your password, your crypto is gone—you can never get it back.

Furthermore, if your crypto account or wallet gets hacked, you can’t get your crypto back.

It is not surprising that crypto firm Coinbase has an “F” rating with the Better Business Bureau.

The Bible says all riches are “uncertain” and we need to trust in God, not in money (1 Timothy 6:17).  However, with cryptocurrency the “uncertain” is written in all caps in flashing neon lights, surrounded by warning signs illuminated by floodlights, while sirens blare “UNCERTAIN, UNCERTAIN.”

5.) Arguments for cryptocurrency are unpersuasive.

In my opinion, arguments for crypto fail to convince. Reputable financial advisors who say to steer clear of cryptocurrency are legion.  Reputable financial advisors who even offer it as a suggestion (not a recommendation) are much less common, and those who even throw it out as a possibility say to only put a tiny percentage of one’s assets into crypto, and only if one is wealthy, and warn that one could lose 100% of the investment.

To read more, please read the complete post “Cryptocurrency: A Christian, Bible-believing perspective.” Feel free to comment below, but if you comment, please read the complete article first. Thanks.

–TDR