Jeffrey Epstein and Cryptocurrency

‘Highly speculated on, but frustratingly vague’ aptly describes Jeffrey Epstein’s connections to many topics over the past two decades, including cryptocurrency.

Despite being a ‘level three’ sex offender—viewed as likely to re-offend—Epstein was received as a counterpoint to JPMorgan’s Jamie Dimon, known for his harsh criticisms of cryptocurrency. Epstein’s credibility as a businessman lent legitimacy to the industry when he spoke positively about Bitcoin’s (BTC) potential.

Epstein is regarded as one of the first to position BTC as a ‘store of value’. He argued that Bitcoin does not share the critical flaw of gold, which can suddenly lose value due to the discovery of hidden caches.

Additionally, Epstein believed that BTC could not be defined as a currency, suggesting that financial vocabulary was outdated.

Did Epstein have direct links with cryptocurrency?

While Epstein appeared to have opinions about Bitcoin, direct evidence of his ownership or investments in digital assets remains elusive. He was a supporter of MIT’s Digital Currency Initiative (DCI), a group that backed several Bitcoin developers starting in 2015. This association has fueled theories suggesting that Epstein played a role in the split between Bitcoin and Bitcoin Cash (BCH).

Why Epstein conspiracy theories are on the rise

The release of Epstein’s files has led to ongoing chaos, raising conspiracy theories about his supposed connections to celebrities and even allegations regarding President Donald Trump’s involvement in his underage prostitution ring. Reports claiming Epstein had connections to both Mossad and the FBI only add to the narrative.

Citizen journalist Mario Nawfal tweeted regarding recently revealed documents that allege Epstein was an FBI informant while under prosecution in Florida, further complicating his already dubious legacy.

Despite the controversies surrounding Epstein, the potential he saw in Bitcoin remains evident. Even after significant market corrections, BTC is still 1,292% higher than its value in 2017, when it stood at $80,393.

Featured image via Shutterstock