Rising costs and a looming recession has many worried—even those that have made significant strides in the crypto space over the last few years. Although there are steps that can be taken to protect gains, one expert says you’ll need a plan to survive impending challenges.
Najah Roberts, the self -proclaimed “Queen of Crypto,” recently kicked off “The Second Annual Digital Financial Revolution Tour” (DFRT) in a news release. The first stop was Saturday, May 28 at 4 pm PT at Leimert Park Plaza (4395 Leimert Blvd, Los Angeles, CA 90008). The event, whose speakers included actor Hill Harper (CBS’s The Good Doctor), spoke about bitcoin, financial freedom achieved with crypto and much more.
The tour will make stops in 41 US communities in an effort to educate attendees on how to buy, sell and use bitcoin to achieve financial freedom. Attendees will receive the smallest denomination of bitcoin (Satoshis) to show participants in real-time what a bitcoin transaction looks like.
“The pandemic has accelerated the economic destruction of many of our urban communities,” Roberts said in a news release. “I fear that we are already in a recessionary cycle, and this combined with runaway inflation could wipe out generational wealth for everyday African Americans. Our communities are facing an economic Armageddon.”
Cryptocurreny, a form of digital money has become increasingly popular among Black consumers.
The Boston Globe theorizes this is because cryptocurrencies removed the primary involvement of massive financial institutions. When bitcoin was created in 2009, BIPOC dove in to explore their options without traditional systemic barriers in place.
A little over a decade later, Black investors are using crypto more than White people, per the National Opinion Research Center as reported by the Boston Globe. Nearly 25% of Black Americans with a household income of $50,000 own cryptocurrency, according an Ariel Investments 2022 survey, compared to 15% of White Americans in a similar tax bracket. Younger people are even more active, with 38% of Black people under 40 having purchased and currently own cryptocurrency, compared to jut 29% of White consumers under 40.