The European crypto scene has gained significant traction over the past few years, with a surge in the interest in and adoption of cryptocurrencies an
The European crypto scene has gained significant traction over the past few years, with a surge in the interest in and adoption of cryptocurrencies and blockchain technology. While the crypto industry is often associated with decentralization, innovation and financial freedom, it is not immune to various political ideologies and influences, and right-wing movements are no exception.
The attraction of cryptocurrencies for right-wing politicians in Europe can stem from several factors. Right-wing ideologies often prioritize individual freedoms and limited government intervention. Cryptocurrencies, with their decentralized nature, offer the potential for financial sovereignty by allowing individuals to have control over their money without relying on traditional financial systems or government regulations.
Right-wing politicians also may perceive cryptocurrencies as a way to challenge the existing financial establishment and its perceived biases or control. Bitcoin (BTC), in particular, emerged after the 2008 financial crisis, a crisis that led many to lose trust in traditional financial institutions and governmental monetary policies.
In addition, many became concerned about central banks and their influence on monetary policy, and Bitcoin’s decentralized nature appealed to those who advocate alternative monetary systems outside of central bank control.
Bitcoin as an “alternative for Germany”
For example, a German exit from the euro and a return to the Deutschmark (the country’s former currency) is a well-known demand of the right-wing populist political party Alternative for Germany (AfD). Although there is no official or clear strategy within the anti-euro party regarding cryptocurrencies, some members have clearly expressed their positive attitude toward Bitcoin.
For instance, AfD leader Alice Weidel has attended several Bitcoin conferences, called herself a “Bitcoin entrepreneur” and wanted to launch a Bitcoin startup. Even Aaron Koenig, a German entrepreneur and the founder of the brick-and-mortar crypto exchange Bitcoin Exchange Berlin, was on the stage with Weidel, and both presented their view of “money without a state.”
The AfD’s prioritization of crypto is also evident in its behavior in the Bundestag, Germany’s parliament. On several occasions, the AfD has submitted “Kleine Anfragen” (literally, “small requests”) to the government. This instrument of parliamentary procedure requires an official response from the Bundestag and is often a way for opposition parties to demand accountability for specific actions or inquire as to why other measures were not taken.
For instance, the party asked a “small question” about crypto donations for Ukraine, how a cryptocurrency could replace the previous currency, what effects this would have on the banking system, and how much Bitcoin German federal authorities own. AfD also opposed a proposed Bitcoin ban during discussions among European lawmakers last year.
Verbotskultur der #Internet-Ausdrucker: #Grüne, #SPD und #Linke wollen #Bitcoin verbieten! #mica
Der #BTC lässt sich nicht verbieten und auch wir bleiben dabei: #Krypto-Währungen sollten von staatlicher Regulierung verschont bleiben!
Mehr erfahren:https://t.co/LeSENUwW3Q pic.twitter.com/vW6QLKlP4k
— AfD (@AfD) March 14, 2022
The concept of cryptocurrency is, in some places, being linked to the right-wing — and, in part, radical — positions of the AfD.
For years, some experts, such as David Golumbia — a digital studies professor at Virginia Commonwealth University who researches the politics of cryptocurrency — have warned that blockchain could be hijacked by right-wing and libertarian groups.
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In Golumbia’s view, blockchain technology and cryptocurrencies could be the realization of their vision of a world without government control. As a former member of the Hayek Society, Weidel belongs to the radical economic liberal wing of her party. The Hayek Society is named after Austrian economist Friedrich August von Hayek, who was an advocate of an unfettered market with as little government intervention as possible.
Support for crypto among Europe’s right-wing parties
It’s not only German right-wing politicians who have voiced interest in Bitcoin and blockchain technology as potential disruptors of traditional financial systems, with the leaders of the Dutch right-wing parties Party for Freedom (PVV) and Forum for Democracy (FvD) — Geert Wilders and Thierry Baudet, respectively — also speaking positively on the subject.
Baudet even wants to make the Netherlands a Bitcoin hub and released two NFT series on the theme of his fight against World Economic Forum founder and CEO Klaus Schwab. Baudet is a fierce critic of the WEF, which he believes is leading the world in the wrong direction and causing serious threats to individual freedom.
https://t.co/W7twSHlO2K
— Thierry Baudet (@thierrybaudet) May 3,…
cointelegraph.com