Why Bitcoin Is 'Bad For Dictators': HRF Executive
Bitcoin serves as a powerful tool against authoritarian control, providing an alternative to manipulated fiat currencies. Human Rights Foundation chief strategy officer Alex Gladstein stated that Bitcoin diminishes the ability of dictators to exert control. Governments struggle to track individuals using Bitcoin correctly, especially when users do not link their identities. Self-custody of Bitcoin protects individuals from government actions like account freezing and hyperinflation. Bitcoin acts as a hedge against inflation, particularly during economic instability. Gladstein highlighted the foundation's recognition of Bitcoin's potential since 2013, citing its role during Ukraine's pro-democracy protests when traditional banking systems failed protestors. The Human Rights Foundation aims to promote and protect human rights globally, especially in authoritarian regimes.
