“No Stance” Is the Wrong Stance
The silence among Christians regarding bitcoin and cryptocurrency is surprising and alarming. While the Bible offers several hundred verses about prayer and faith, there are over 2,000 with the focus on money and wealth. Arguably, the most prominent verse of this nature is stated by Christ,
Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also. —Matthew 6:19–21
Christians are encouraged to look past temporal and corruptible wealth of the world. When we are heavenly minded, we can mitigate the allure of this world to desire the things that God desires.
However, we are not like the gnostics who completely disregard the physical realm as inconsequential. Christians have duties to live out their time in the world as full members in the name of the Lord God and Savior, Jesus Christ, as he was fully man in this realm 2,000 years ago.
Bitcoin is a very real part of our society but also very new. As any new concept or construct in the world, there will be supporters and detractors. Over its brief existence, it has only recently truly been a topic of global significance now and during its infamous spike and tank of 2017.
Fear, Uncertainty and Doubt Fueled by Old News and Propaganda
It was in 2017 that many Christian commentators came out to speak against bitcoin citing “volatility” and “risk,” commonly exchanged for “illegal activities,” and the lack of “control” by appropriate authorities. While 2017–2018 was not a great time period for the asset, these negative statements about bitcoin are easy to make while it is on the way down for a brief moment. But now that it has recovered and grown three times past that peak to a total market cap of $1.1 trillion and the 15th most valuable…