A growing skepticism of established monetary and social institutions is driving Bitcoin investment, according to Yuval Noah Harari. While technology continues to move in the opposite direction, there is still a glimmer of hope that humanity can figure out how to build trustworthy institutions:
Like many BTC supporters, I think Bitcoin is a money that people should be wary of. Despite valid concerns about the veracity of the dollar, yen, and other national currencies, the fact remains that Bitcoin’s popularity stems from a general aversion to relying on centralized institutions.
Trustworthy institutions have already been created; they are called Bitcoin technologies, according to MicroStrategy co-founder Michael Saylor. In a similar vein, JAN3 CEO Samson Mo brought the attention of the Israeli philosopher to the reality that the first cryptocurrency offers trust throughout the entire financial digital system.
Financial guru and gold advocate Peter Schiff has previously called Bitcoin a “dead cryptocurrency.”