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A Culture War Is Brewing Between Bitcoin’s Old and New Money

An effort is underway to strip some of the cryptocurrency’s still-anonymous early adopters of their remaining power.

Bloomberg business news
Crescent Crypto CEO Makes the Passive Case for Bitcoin

Satoshi Nakamoto may be long gone, but his early followers are still around and their identities still unknown. They go by pseudonyms, such as Cobra, and frequently spout unpopular, pseudo-anarchist rhetoric.

As the cryptocurrency’s price soared in recent years, Bitcoin’s Old Money and New Money coexisted with only occasional conflict. But this year, a prolonged slump has wiped out more than $100 billion in wealth, and the ensuing panic over how to stabilize the currency has incited a Gatsby-esque class war.