Key Takeaways
- Alex Gladstein of the Human Rights Foundation claims Bitcoin undermines authoritarian regimes.
- Self-custody of Bitcoin protects individuals from government asset freezes and hyperinflation.
- HRF began using Bitcoin during Ukraine's 2013 protests, recognizing its utility for activists facing financial repression.
At the Bitcoin Policy Summit in Washington, D.C., Alex Gladstein, chief strategy officer at the Human Rights Foundation (HRF), emphasized Bitcoin’s role as a safeguard against authoritarian regimes.
Addressing a group of U.S. political leaders, Gladstein stated:
“With Bitcoin, the ability of these leaders to do these things is completely decimated. Bitcoin is bad for dictators.”
Bitcoin’s protection against government overreach
Gladstein highlighted that when bitcoin is used without linking personal identification, it becomes difficult for governments to track individuals.
He underscored the importance of self-custody, noting that governments cannot delete, freeze, or hyperinflate assets held in bitcoin wallets.
For those under authoritarian rule, Bitcoin offers a vital hedge against inflation and financial repression.
He explained:
“If you’re self-custoding your Bitcoin, governments can’t delete or freeze your stuff, and they certainly can’t hyperinflate you. So many people from these countries and so many other countries have essentially been saved or rescued because of this technology.”
Early adoption during Ukraine’s protests
Gladstein recounted HRF’s early experimentation with Bitcoin during Ukraine’s 2013 pro-democracy protests against then-President Viktor Yanukovych, when protestors’ bank accounts were frozen.
Despite initial skepticism, Bitcoin enabled activists to receive funds when traditional routes were blocked.
HRF recognized bitcoin’s potential as early as 2013, when its price hovered around $100.
The Human Rights Foundation remains focused on promoting and protecting human rights, particularly in countries suffering under authoritarian rule.
