by Matt Agorist, The Free Thought Project:
In a world where financial titans and political elites are increasingly embracing blockchain technology, the stark contrast in treatment between these institutional players and the pioneers who laid the groundwork for cryptocurrency’s rise has never been more glaring. The simultaneous mainstream acceptance of Bitcoin ETFs and the legal persecution of early crypto advocate Roger Ver and others epitomize this dichotomy.
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Wall Street’s Crypto Embrace
The past year has witnessed a seismic shift in the financial industry’s stance toward cryptocurrencies. BlackRock, the world’s largest asset manager, launched the iShares Bitcoin Trust (IBIT), marking a significant milestone in institutional crypto adoption. The fund’s inclusion in BlackRock’s alternative asset model portfolios, with allocations between 1% and 2%, underscores the growing legitimacy of Bitcoin in traditional finance circles.
This move is part of a broader trend, with over 50 crypto ETFs expected to receive approval under the new leadership at the U.S. Securities and Exchange Commission (SEC). Analysts predict that 2025 could be the “Year of Crypto ETFs,” signaling a robust institutional appetite for digital assets.
Roger Ver: From ‘Bitcoin Jesus’ to Government Target
Contrasting sharply with Wall Street’s warm embrace of cryptocurrencies is the plight of Roger Ver, affectionately known in the crypto community as “Bitcoin Jesus” for his early and fervent advocacy of Bitcoin. In 2024, U.S. prosecutors charged Ver with evading over $48 million in taxes related to the sale of $240 million in tokens. Ver, who renounced his U.S. citizenship in 2014, was arrested in Spain and now faces extradition to the United States.
Ver’s legal team has challenged the charges, arguing that the Internal Revenue Service’s (IRS) “exit tax” is both unconstitutional and impermissibly vague, especially concerning digital assets. They contend that the prosecution is less about tax evasion and more about targeting Ver’s outspoken advocacy for financial sovereignty and privacy—principles that underpin the very essence of cryptocurrency.
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