Bitcoin’s Massive Boom Might Be Benefitting Neo-Nazis

After the violent Charlottesville rally in August, some alt-right attendees either had their social media accounts shut down or their web hosting privileges revoked.

Around that time white supremacist began investing in Bitcoin – a digital currency not issued by any government — after they were banned from using money transferring services like Apple Pay and PayPal.

Richard Spencer, a white supremacist who attended the rally, even called bitcoin “the currency of the alt right.”

An investigation by Mic showed that bitcoin’s massive boom had benefitted neo-Nazis who have taken in thousands of dollars in donations.

Experts say alt-right extremists turned to the cryptocurrency so they could use the proceeds to communicate with their base.

“Bitcoin is allowing people in the movement to go beyond cash in an envelope or a check,” Heidi Beirich, who leads the Southern Poverty Law Center’s Intelligence Project, told the Washington Post. “It’s really a godsend to them.”

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