Faith, Fortune, and the Future: How Christians are Embracing Cryptocurrency
In the heart of Nashville, a unique radio show, “God, Freedom and Bitcoin,” launched in January, a testament to the burgeoning intersection of faith and digital finance. Todd and Janet Gatewood, the show’s creators, weave their deep-seated Christian beliefs with a fervent passion for cryptocurrency. However, their debut coincided with a sharp market downturn. As Bitcoin struggled to recover from its October peak of approximately $126,000, hovering around $69,000 in early 2024, a 45% drop, the Gatewoods viewed this volatility not as a setback, but as a divine opportunity.
Janet, a local realtor, openly shared her hope during a February broadcast: a market dip meant lower prices, allowing her to acquire more Bitcoin. “This is what we call ‘on sale,’” she remarked, echoing a common crypto mantra: “Buy the dip.” This sentiment resonates beyond the Gatewoods, with a growing cohort of Christian influencers, entrepreneurs, and even pastors actively engaging their congregations and followers about the merits of digital currencies. Their approaches vary, from staunch Bitcoin advocacy to a more eclectic interest in meme coins, digital assets born from internet culture.
Doubling Down in the Face of Volatility
Amidst this turbulent market, many Christian investors are not only holding steady but are actively increasing their stakes. Alicia Tappin, a 55-year-old, shared her calm resolve, having purchased Bitcoin during the recent price slide. “It’s not phasing me at all,” she stated, crediting her emotional detachment for her equanimity. “I’m not emotionally tied to it right now — if I was I would be a wreck.” Tappin finds guidance from Christian businesswoman Michelle Renee, whose firm offers a premium membership for $499 annually, granting access to exclusive webinars, a curated “cryptocurrency watchlist,” and a dedicated Telegram chat.
However, this optimistic outlook hasn’t been without its challenges. Some Christian finance influencers have faced criticism and scrutiny for their predictions, particularly as the market, once buoyed by a seemingly supportive political climate, now navigates choppy waters. YouTuber Jebb McAfee, who boasts 248,000 subscribers on his “Crypto Jebb” channel, has faced viewer backlash. McAfee, who identifies as “a Christian who loves bitcoin and promotes financial sovereignty,” encouraged his audience in a mid-February video to subscribe, promising potential riches and peace of mind. “Not everyone can make a $100 million, but everyone can make a couple of million dollars,” he optimistically stated.
Yet, viewers have voiced their dissent. “You were wrong about everything, why follow you now,” one commenter questioned. Another lamented, “Only tell u to buy but never when to sell. It should be illegal for all of these hacks to be in here running their mouths.” McAfee’s team declined an interview request.
An Emerging Christian Crypto Subculture
The integration of cryptocurrency into Christian circles is becoming increasingly visible, from churches now accepting tithes in digital coins to blogs promoting Bitcoin as biblically aligned. Even former President Donald Trump, who garnered significant support from Evangelical voters, has shown an interest in crypto. Pastor Lorenzo Sewell, a nondenominational minister who prayed at Trump’s inauguration, even announced the launch of his own cryptocurrency, though he admitted to not knowing its creator. “Whether we understand it, whether we like it or not,” Sewell commented, “it’s an investment trend.”
The motivations behind this burgeoning interest are diverse:
- Work-Life Balance: The Gatewoods, for instance, see Bitcoin as a way to escape the constant demands of modern communication, which they feel intrude on sacred family and spiritual time. Janet lamented on their show about phones that “don’t even respect Sunday mornings.”
- End-Times Interpretations: Some Christians are drawn to crypto through interpretations of biblical prophecies and end-times beliefs.
- Missionary Support: For others, digital currencies offer a discreet avenue for supporting missionaries abroad.
- Wealth Accumulation: A significant portion simply views crypto as a means to build wealth, thereby freeing up more time for religious devotion and community engagement.
Concerns Over Financial Abuse
Despite the enthusiasm, some observers express significant concerns about the potential for financial exploitation within these faith-based communities. In Colorado, prosecutors have alleged that investors lost over $3 million after a pastor marketed a self-created cryptocurrency, subsequently misappropriating at least $1.3 million of the funds. Professor William Schultz of the University of Chicago’s Divinity School highlights the inherent vulnerability of religious groups. “Religious communities are often vulnerable to fraud because they are bound together by these networks of trust,” he explained. “I think our defenses are often lowered when there is someone who speaks our language, who in some cases dresses the same way we do — professes the same beliefs.”
While comprehensive data on the extent of crypto adoption within Christian communities is scarce, indicators point to a clear upward trend. Nonprofits like “Thank God for Bitcoin” are dedicated to educating Christians and churches about digital assets, with their annual conferences nearly doubling in size since their inception in 2022. Beyond organised efforts, individuals like the Gatewoods independently share information, carefully distinguishing their content from official financial advice.
Jimmy Song, another influential figure in the Christian Bitcoin advocacy space with over 354,000 followers on X, remains steadfast in his support for the asset, even amidst market declines. “If you can’t hold at $75,000, you don’t deserve it at $1,000,000,” Song posted in January, underscoring the importance of perseverance during downturns. Song, a Bitcoin developer and co-author of “Thank God for Bitcoin,” argues that the rising cost of living has prompted many Christians to question the underlying causes of inflation. For those who, like him, believe that an expanding money supply is a primary culprit, Bitcoin offers an appealing alternative. “They’re happy that bitcoin exists,” he stated. “That they have a way to opt out of all the inflation and all of the shenanigans of the Federal Reserve, and the weird government spending.”
Crypto in the Pew: A Controversial Proposition
The embrace of cryptocurrency by some church leaders has not been without controversy. Pastor Lorenzo Sewell faced immediate backlash on social media after promoting his own meme coin. “I enjoyed your prayer at the inauguration more than I can express,” one commenter wrote on X. “But somehow … I don’t think Jesus would approve of this.” Sewell acknowledged the criticism and admitted that some investors lost money, as his meme coin, like many others, rapidly depreciated. However, he defended his actions, asserting that he used profits to support young people aging out of foster care. “There’s a difference between creating wealth and scamming people,” Sewell maintained. “I capitalized on someone using my name, that’s what happened.”
The intertwining of spiritual matters with financial ventures has a long and often contentious history. For decades, televangelists have faced accusations of exploiting followers through the “Prosperity Gospel,” a message suggesting that financial blessings can be attained through generous giving. Leah Payne, a professor of American religious history at Portland Seminary, notes that adherents who believe God desires their prosperity are often drawn to entrepreneurial pursuits, reflecting a long-held notion that “God can and does work through the marketplace.” Payne observes that religious subcultures have historically embraced entrepreneurial ventures framed as mission-driven or values-driven, from direct-selling giants like Mary Kay to contemporary online businesses.
One of the most significant appeals of cryptocurrency, for both believers and nonbelievers alike – its lack of regulation – also presents its own set of risks. In Colorado, Eli Regalado, the pastor of an online church, is slated for trial this year over an alleged crypto scheme. Prosecutors contend that he and his wife used biblical scripture and prayer to market a coin with “zero value” as a divine investment promising “abundance” and “blessings.” Representatives for Regalado did not respond to requests for comment, while an attorney for his wife has denied any wrongdoing.
Many Christian cryptocurrency enthusiasts are quick to differentiate their own advocacy for Bitcoin, the world’s first and most prominent digital currency, from fraudulent schemes and less established cryptocurrencies. Jordan Bush, the founder of Thank God for Bitcoin, stated that his organisation has declined numerous offers for crypto project promotions and sponsorships. He emphatically asserts that one should never expect him to claim divine instruction for launching a cryptocurrency. “If you ever hear me say something like this, you know I’m being threatened with my life,” Bush declared.
A New Political Landscape for Bitcoin
The alignment of former President Trump with cryptocurrency, including his launch of a meme coin and his opposition to prior administration crackdowns, has fostered a synergy between cultural conservatives and crypto enthusiasts. Beyond Trump’s inauguration pastor, conservative figures have encouraged companies to invest in Bitcoin, and the issue has even surfaced in state legislatures. Last year, Dusty Deevers, a prominent conservative known for his advocacy against no-fault divorce, proposed legislation that would permit government employees to receive their salaries in Bitcoin.
Approximately 88 miles outside of Nashville, Tennessee, a Christian real estate developer is championing the creation of a new “Bitcoin hub.” Josh Abbotoy of RidgeRunner envisions the Highland Rim Project, spanning land across four counties in Tennessee and Kentucky, as an attractive proposition for homebuyers seeking a more tranquil lifestyle, a “traditional Bible Belt feel,” and an escape from the perceived chaos of larger cities like New York and California. Businesses establishing themselves in the area are encouraged to accept Bitcoin. Abbotoy believes a key attraction for religious individuals is the fear of being “de-banked,” a concern amplified by recent allegations from some conservatives who claim to have been denied banking services due to their political beliefs. “They don’t like the feeling that their ability to transact and operate is kind of subject to the whims of a financial institution that may or may not align with their viewpoints,” Abbotoy explained. He anticipates that within a decade, businesses in this enclave will routinely accept Bitcoin for payments.
The Highland Rim development has, however, drawn controversy and concern due to its appeal to the far-right. Two of its most prominent residents have been described as Christian nationalists in local media, and their remarks concerning immigrants, the Civil Rights Movement, and gender roles have sparked significant backlash in the region.
For some Christians who embraced crypto before its association with Trump, the former president’s endorsement has been a welcome development. Janet Gatewood and her husband, Todd, began their deeper dive into Bitcoin after Todd heard about it on a podcast in 2021. On their radio show, the couple openly discusses their belief that Bitcoin can facilitate greater engagement in church and political activities. Janet has expressed support for the SAVE Act, and both have voted for Trump. “He is a business president,” she stated. “Is he perfect? No. Is anyone perfect?”
Christian voters, particularly white Evangelicals, form a crucial demographic for Trump. He has embraced the moniker of “crypto president” and courted criticism with the launch of $TRUMP meme coins early in his second term. Several Christian investors who spoke with NBC News expressed their disapproval of this move. Gatewood, the Nashville-based realtor, has conducted talks about Bitcoin at a Christian private school and for Catholic priests, with one of her objectives being to assist churches in establishing strategic Bitcoin reserves. The Magnalia Foundation, a nonprofit founded by ordained Presbyterian Minister Tim Fox, is also actively involved in this initiative. Fox, based in Texas, has spent the past eighteen months advising churches on Bitcoin adoption. It’s possible, however, that congregants are leading the charge; Fox notes that most church inquiries begin with a cryptocurrency donation. As a safeguard, Fox’s organisation advises churches to avoid investing funds in Bitcoin that they might require within four to five years.
‘Sensitive to the Spirit’ Amidst Market Fluctuations
As Bitcoin continues its descent from its peak values, many investors grapple with uncertainty. However, this hasn’t deterred a significant portion of devout crypto enthusiasts. For Dorothy Hill, a 72-year-old who is relatively new to cryptocurrency, the market plunge has presented itself as a timely opportunity. Hill, who prays over her financial decisions, finds solace in what she perceives as God’s meticulous attention to even the smallest details of life.
Last year, Hill attended a crypto workshop led by Michelle Renee at a church in Chicago. In the days preceding the event, Bitcoin’s value had fallen from over $120,000 to below $100,000. During the class, Renee, while not dwelling extensively on the price drop, emphasized the importance of viewing dips as opportune moments to buy. “We like when the markets are red,” Renee, the founder and CEO of In40rmative Services, declared. “We like when they say, ‘the world is coming down on our heads.’” At the session’s outset, attendees were prompted by an emcee to affirm, “This money is mine.” Renee, taking the stage in a dress adorned with her company’s initials, shared her personal testimony of being healed from a stroke at 19, attributing her recovery to a divine purpose to assist others financially. “My destiny is to lead God’s people to the wealth,” she proclaimed. Hill, seated at a beginner’s table, absorbed this message and left with a plan to purchase Bitcoin. “I don’t want it to start climbing back up and I miss that climb,” she later confided. The prospect of crypto leading to wealth significantly piqued her interest. “I’m not going hungry, but there are more things I want to do,” she explained, citing travel and substitute teaching as future aspirations.
A church member’s suggestion led her to Renee’s teachings. “I’m just kind of being sensitive to the spirit,” Hill reflected. “I don’t think it was just me going out on my own. I have to trust God and pray about it.” Months later, with Bitcoin trading below $70,000 and amidst swirling controversies surrounding the Trump family’s crypto ventures, Hill had yet to make a purchase. In the interim, she has continued her education and set aside funds for when she feels ready to invest. “I’m only going to invest what I can lose,” Hill affirmed.
While American churches have demonstrated a notable capacity for adopting new technologies, the majority of Americans still do not own any cryptocurrency. Dave Ramsey, a prominent Christian financial expert, remains a vocal skeptic. Many churchgoers from the 2000s recall his “Financial Peace University” program, which aimed to guide individuals toward debt-free living, with some houses of worship subsidizing the course fees for their congregants.
On his radio show, Ramsey has drawn parallels between purchasing crypto and investing in Beanie Babies. When a caller struggling with debt attributed her crypto investment to divine guidance, Ramsey expressed disbelief. “It might have been a spirit, but it wasn’t the holy one,” Ramsey admonished. For decades, Ramsey, known for his emphasis on personal responsibility in financial matters, has advocated for traditional investments like mutual funds and 401(k)s, prioritizing emergency funds and strict debt repayment strategies.
Others have raised concerns that cryptocurrency poses a spiritual threat beyond mere financial risk. On platforms like TikTok and YouTube, videos explore the question of whether crypto could be a sign of the Anti-Christ. Gatewood acknowledges this apprehension within Christian circles. “Some Christians ‘are afraid of bitcoin. They think it’s the mark of the beast,’” she stated. “That’s OK,” she added. “We were scared when we first heard about it. We thought it was a scam.”
Faith Amidst the Dip
While some churchgoers remain perplexed by cryptocurrency, others, like Michelle Renee, have found a receptive audience from the pulpit. “I think I was attracted because of her faith,” Tappin said, referring to Renee. “Because of my faith, I believe God has put me in this space with her. It’s up to me to put in the work.” Tappin initially encountered Renee at a conference in 2021. She began investing in Ethereum but suffered losses after her digital wallet was compromised. Undeterred, she returned to Renee’s workshops last year. During a break at one session, Tappin won a gift bag, including a flat iron, for correctly answering a question. Another attendee, who received a silver coin, expressed a preference for the hair straightener. In the intervening months, Tappin has actively purchased Bitcoin during market dips, even as its price fell into the $60,000 range. For Tappin, who often wonders about her potential portfolio gains had she not paused her investments, now is not the time for hesitation. “Talk to me in 2028,” Tappin confidently stated. “I’ll let you know how it went.”
