In brief
- John Lennon's son said Bitcoin transcends the physical world.
- Bitcoin has been praised by many wealthy investors in recent months, but Lennon said it should be enjoyed by everyone.
- His comments come during Bitcoin's ongoing bull run which has seen its price increase by 43% in a month.
John Lennon’s son, Sean Lennon—while speaking on the Orange Pill podcast yesterday—said Bitcoin “empowers people in a way they’ve never been empowered before.”
Bitcoin has enjoyed plenty of praise over the last few months. But, with most of that praise coming from high end institutions like MicroStrategy and Square, some have suggested Bitcoin is nothing but rich people’s money. Now, after a tumultuous 2020, Lennon has said Bitcoin’s benefits should be enjoyed by everyone.
“In an ocean of destruction that was this year, I find Bitcoin to give me a kind of optimism, to be honest,” Lennon said.
Judging by Bitcoin’s price, Lennon is not the only one who is bullish on Bitcoin these days. The cryptocurrency has increased to over $18,500, a 43% increase from its price of $12,965 just one month ago.
Lennon reasoned that the world’s famed cryptocurrency gives ordinary people a far more secure route to wealth than other assets. “If they [people] had gold they would have to carry it in a sack and someone could steal that from them,” Lennon said, adding that Bitcoin doesn’t have that kind of a problem.
Instead, because Bitcoin transcends the physical world, ordinary people can sleep soundly knowing their wealth is more secure than it would be if it was invested in gold.
“It means that you have total agency, you have total self-sovereignty and as long as you can remember your key phrase then you are good to go.”
Although, not everyone can.