Bitcoin lawyer Najah Roberts explains why BTC is a tool for empowerment

If you ask 10 people what Bitcoin’s original purpose is, at least one person will say it’s meant to cut out the middleman, reduce the cost of transactions, and empower those who may not have access to modern financial infrastructure.

While all of these boxes can be ticked, another phenomenon in financial technology, and technology in general, is that not everyone benefits equally from the revolutionary change it brings. Of course, this happens for a variety of unique reasons, some intentional and some unintentional, but the phenomenon of technological change leaving some people behind presents a rather unique question.

How Can Bitcoin Empower Black Americans?

In this week’s episode of The agenda — a Cointelegraph podcast that explores the promise of crypto, blockchain and Web3, and how everyday people are leveling up and improving their lives with technology — hosts Ray Salmond and Jonathan DeYoung dig deep into the topic with Najah Roberts, an activist, educator and founder of several crypto-related organizations, including Black Bitcoin Billionaire, a physical Bitcoin exchange, and a technology-focused children’s camp.

According to Roberts, Bitcoin (BTC) itself is the last great hope and opportunity for black American empowerment; and for this reason, she has dedicated the last five years to spreading the good word of Satoshi Nakamoto and the basic principles of financial literacy.

Bitcoin could be the path to freedom

As a base case for her raison d’etreRoberts explained that:

“The Emancipation Proclamation was signed over 150-something years ago. And at that time in this country black people in America had less than 1% of the wealth. And here we sit, in 2022, and in fact black people in America own less than 1% of the wealth. […] Bitcoin gives us the opportunity to have some self-sovereignty and to be able, for the first time in history, to be in control of our money – because he who has the money controls everything. And so if we are the holders of our money, we will be able to manage our own lives. And I’m excited about that for our community.”

Roberts explained that economic self-sovereignty is essential, especially in systems like the United States where the tools and resources that lead to generational wealth creation have historically been denied to certain groups.

Roberts said:

“We have to become self-sufficient because no one is looking out for us but us, and we have to get that in our heads. And that is what we have taught society. So, Bitcoin is just the first stepping stone. Again, whoever has the money has the power. And so we want to keep our own money so that we have the power to do the things that we need to do, not only in our families, but in our communities. Because when it boils down, it’s all about finances.”

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Revolutions are not often televised

When asked about Bitcoin’s high volatility, the spread of fraud in the crypto sector and whether it is smart to advise people with limited financial literacy to invest in an emerging, risky asset like Bitcoin, Roberts suggested that the revolution would not be televised .

According to Roberts, literacy is the gateway to self-sufficiency, so her first focus, and the digital underground, is first to help people understand the value of saving, regardless of how much they are able to save. She emphasizes concepts surrounding compound interest and dollar cost averaging, and when it comes to volatility, Roberts reminds potential investors that timing the market is more effective than trying to time the market.

“I don’t teach our society to time the market because timing the market is better than timing the market. So I am teaching our community to dollar cost average. […] Whatever you do on a regular basis, keep doing it, but just add some satoshis to your portfolio. So if you’re going to Starbucks seven times a week, I’m not saying don’t go to Starbucks—I’m saying go six instead of seven, or five instead of seven, and take $6 off that coffee and buy yourself some satoshis.”

To hear more from Roberts, listen to the full episode of The agenda on Cointelegraph’s new podcast site, Spotify, Apple Podcasts, Google Podcasts or TuneIn – and be sure to check out Cointelegraph’s other new shows as well.

The views, thoughts and opinions expressed in this podcast are those of the participants alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.