According to Forbes, the median wealth of Black and Latino families could hit zero by 2053. Traditionally, Black Americans lag behind on the wealth scale however the adoption of cryptocurrency, specifically Bitcoin, might enable a change in that narrative by means of training and dollar-cost averaging.
Investing in bitcoin for African Americans has grow to be a “what do I have to lose” state of affairs. There is now tons of information on the influence of wealth inequality and the way it impacts African Americans which is downright stunning to say the least. The Black and Brown neighborhood’s wealth hole has widened by means of Jim Crow segregation, redlining, mass incarceration, excessive unemployment and lack of monetary literacy. Bitcoin is not centralized by an entity, company, individual or nation, which means it is not managed by a single authority or managed in a single place. This lack of centrality removes the elemental flaw of bias. Bitcoin doesn’t care what you seem like, what tradition you come from, your gender or your spiritual background.
