Balancing Faith and Finances: A Christian Perspective on Bitcoin (03/22/'24) -Statement

Balancing Faith and Finances: A Christian Perspective on Bitcoin The Christian Biblical view on Bitcoin, or any form of cryptocurrency, is not explicitly mentioned in the Bible due to its relatively recent development. However, Christians often interpret the moral and ethical implications of using or investing in Bitcoin through broader biblical principles related to money, wealth, stewardship, and ethical conduct. These interpretations can lead to both positive and negative views. Positive View and Biblical Basis Stewardship: The Bible teaches the importance of stewardship—managing God’s resources wisely. Bitcoin, like any other form of wealth, can be seen as a resource that Christians are entrusted to manage wisely (Matthew 25:14-30). Innovation and Wisdom: The Bible does not oppose technological innovation or wisdom in financial matters, as long as they are used for good and not for exploiting others. The parable of the talents (Matthew 25:14-30) can be interpreted as an encouragement to invest wisely and increase one’s resources. Financial Freedom and Helping Others: Bitcoin and other cryptocurrencies offer a level of financial freedom from traditional banking systems. This can be seen positively in the light of Proverbs 22:7, which speaks about the borrower being slave to the lender. Cryptocurrencies can provide ways to financially support others directly, aligning with biblical calls to generosity (2 Corinthians 9:6-7). Negative View and Biblical Basis Volatility and Risk: The Bible warns against putting trust in uncertain riches (1 Timothy 6:17). The volatility and risks associated with Bitcoin investments might be viewed as not being prudent. Materialism and Idolatry: If the pursuit of wealth through Bitcoin becomes a primary focus, it could lead to materialism or idolatry, which are condemned in the Bible (Matthew 6:24; Colossians 3:5). Ethical and Moral Concerns: The anonymity and decentralization of Bitcoin have been associated with illegal activities. Christians might be concerned with the ethical implications of supporting a system that can be used for ungodly purposes (Proverbs 10:9; Ephesians 5:11). Avoiding Speculation: The Bible advises against get-rich-quick schemes (Proverbs 13:11; Proverbs 23:4-5) and speculative investments might be seen in this light. Vision for the Future The Bible’s teachings on money and wealth are more about the attitude and heart of the individual than the specific medium of exchange. Christians are called to use whatever resources they have for the glory of God, to help others, and to spread the Gospel. The use of Bitcoin or any technology should be weighed against these principles. The vision for the future would likely emphasize ethical use, wise stewardship, and an awareness of the potential for both positive and negative impacts on society. In summary, while there is no direct biblical basis for a stance on Bitcoin, the principles within the Bible that guide financial behavior and ethical conduct provide a framework for Christians to evaluate and consider their involvement in cryptocurrency. Pastor Steven G. Lee (March 22, 2024)