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6 min read

Do you believe in a coin called hope?

From fiat to faith: the rise of crypto evangelism
 An image show a braclet that has a bitcoin symbol beside a cross, a crescent and a Star of David.

“The bridge from chaos to hope.” This was the rather grandiose language used on social media platform X last summer by one prolific tweeter boasting 4.4 million followers. What they were describing, however, was not a religion or philosophy, nor a social movement or political party, nor a breakthrough in medical technology or a self-help technique. Rather, financier Michael Saylor was talking about the world's biggest cryptocurrency, bitcoin. 

Saylor’s profile on X declares that “#Bitcoin is hope.com”. That website contains, among other things, video clips of Saylor talking about how “bitcoin is the manifest destiny for the United States of America”, “bitcoin is economic immortality”, “bitcoin is forever money” and so forth. 

Saylor is in fact just one - albeit a particularly successful one (his net wealth stands at around $10 billion, according to Forbes) - of a number of vocal crypto advocates, trying to explain the huge, transformational impact on society that the cryptocurrency will supposedly have. Their precise arguments can vary, but are often along the following lines: the fiat money system is broken due to manipulation by governments and central banks - for instance through money printing - leaving control of the money supply in the hands of a small group of the rich, while the purchasing power of the general public is eroded; in contrast, bitcoin is incorruptible, not controlled by the government, available to everyone and finite in supply. 

A common thread running through some of the writings and talks of a number of these bitcoin enthusiasts is a quasi-religious language, used to convey bitcoin’s importance. 

Hope.com, for instance, includes a research paper on “The bitcoin reformation”. Its author writes: “It wasn’t until I studied the era around the Protestant Reformation that I felt I’d found a potential blueprint of sufficient scope” to describe what is happening with bitcoin. 

Particularly vocal crypto proponents are known as bitcoin evangelists, while some crypto investors will talk of fellow “bitcoin believers”. They can even drink their coffee from a ‘bitcoin salvation’ mug) (which depicts two winged cherubs holding the cryptocurrency). Non-believing sceptics are termed “no-coiners”. 

Early bitcoin adopter Roger Ver - who has been indicted on fraud and tax charges, which he says are false - is known by the nickname “bitcoin Jesus”. One non-profit decentralised community is named Bitcoin God. 

The precise mix of irony and sincerity being used in such examples is of course debatable and will vary. Nevertheless, among the most fervent crypto investors there appears to be an earnest belief in the transforming power of bitcoin. 

But there may be additional reasons why some of the most fervent proponents instinctively reach for such language. 

“There’s a link with forms of transhumanism - the idea that we’re in the middle of an upgrade of humanity.” 

Dr Roger Bretherton, a clinical psychologist and Seen & Unseen contributor, argues there are elements of tribalism and “the psychology of identity” in some of the most cultic aspects of the crypto world. He sees some similarities there with “old 60s cults of people believing UFOs were going to land in their backyard”, talking about crypto as a cult rather than crypto as a currency.

“People overlap their identity [with a particular movement]. They're saying ‘that's me, that's who I am,’” he said. 

“In periods of uncertainty we seek to find certainty in our groups. We're in an individualistic society.” 

Use of religious language also points to a belief that bitcoin/crypto/blockchain will bring about some form of a radical global change less on the scale of an incremental technological development, and more akin to a transformational religious experience. 

“There's an element of faith and an eschatology attached to crypto: 'this is the new thing that will change the world,'” said Bretherton. 

“There’s a link with forms of transhumanism - the idea that we’re in the middle of an upgrade of humanity - the kingdom of tech is coming. It feels like crypto becomes part of the same narrative. The key question is whether our future lies in technology and power, or in love.” 

For such fervent bitcoin proponents, attempts to rubbish their beliefs are often futile. Indeed, trying to do so may only serve to strengthen the believer’s resolve that they are right. 

“There's a cognitive dissonance,” said Bretherton. “The more ridicule you've had to go through, the more you've given up, the more social difficulty you've gone through - particularly if you've given up a career to pursue crypto - then the stronger your belief. It's the sunk cost fallacy.” 

So far, bitcoin believers have proved the doubters wrong. The price of the coin has gone from less than $20,000 in the wake of the collapse of crypto exchange FTX in late 2022 to around $118,000 at the time of writing. Saylor has turned MicroStrategy (now known as Strategy) - the company of which he was CEO in 2020 when he decided to use it to buy and hoard bitcoin - into a $110bn market cap firm that has spawned many copycats.  

But what importance bitcoin eventually assumes in society is still very much an open question. It has not yet become a form of payment for our morning coffee or for buying a house, and maybe it never will. Whether it can really function as “digital gold”, a hedge against inflation or “a bank in cyberspace” (as Saylor calls it) is debatable. But it has already made huge strides, soaring to a market price well above what most people would ever have imagined. In July, US Congress passed a landmark bill regulating stablecoins - a type of cryptocurrency pegged typically to the dollar - in what is being seen as a huge step forward for the industry. 

Nevertheless, it seems likely that some of the wilder claims made about bitcoin may not come to pass. What happens if true believers are left disappointed? 

Bretherton says such belief systems have to subtly change their “metanarrative” as and when they do not deliver on initial promises. 

“It can't make predictions that can be shown to be false,” he said. “If crypto doesn't deliver its promises in the future, it has to find another way that's softer but which lasts. So it either collapses or it finds a way to become more nuanced."  

Whatever importance bitcoin eventually assumes in society, our desire to put our faith in it - or in anything else - reveals something deeper about our human nature. 

In the Bible, the book of Ecclesiastes explores humankind’s attempts to find meaning in human lives without God. The main character tries career, pleasure and wealth. But ultimately, they find that these things are just “meaningless”, “vapour” or “chasing after the wind”. 

That search for meaning, for the eternal, is inbuilt in our character. As the book’s author puts it: God has “set eternity in the human heart”.  

We are not designed merely to be born, to live and then to die. Instead, each one of us has been created with an inherent desire to know if there is something eternal out there, and to find out whether we can be part of that story. Crypto cannot offer us that salvation. The only thing or person who can, the author of Ecclesiastes would argue, is the One who put that desire in us in the first place.  

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Explainer
Belief
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7 min read

The peripheries of belief: how faith shaped the north’s identity

Northern spirituality’s rebellious capacity to adapt is still in play today

Tom Rippon is Assistant Editor at Roots for Churches, an ecumenical charity.

Dark clouds over Durham Cathedral
Durham Cathedral and town.
David Connor on Unsplash.

2025 has so far been the year of the north. At its start, we were treated to the plasticine escapades of Wallace and Gromit, whose unabashed northern-ness was enough to faze American TV executives. Then in April, the story turned to northern industrial decline when Scunthorpe steelworks hit the headlines, prompting last-minute state intervention. In May, the local elections saw the astonishing rise of Reform across areas previously dominated by Labour. Taken together, these three moments encapsulate the range of associations often evoked by life on the periphery of England: regional pride, good-natured humour, close communities, economic precarity and hard graft. 

The north is a landscape of contraries and co-existence, where sweeping fells and dark skies meet red-brick chimneys and rolling waves of terraced houses.   As David Barnett puts it, it is “a place made up of individuals, bound by an ethereal quality that is at once a myth and, conversely, as real as grit and graft.’  

Hard to pin down, yet real once seen, the same could also be said for the faith that has filled the region with a multitude of expressions to this day. 

Of course, when we talk about ‘the north’, we mean everything and everyone from the conurbations of Merseyside and Greater Manchester to the Lake District and Northumberland, where centuries of border warfare have left a plethora of castles and fortified houses (‘pele towers’). Two landscapes dominated by buildings which have long lost their original purposes. Perhaps the principal shared characteristic of these communities is a sense of distance from mainstream political and cultural life (just try catching a train that isn’t heading to London). But with distance comes an independence of identity and a proud sense of cultural distinctiveness.  If anything, the only thing that can be definitively said about northern identity is that it is the quality of being ‘not southern’.   

Northern Christianity has not escaped this wavering relationship with the south.  In 664 AD, the Northumbrian Church gathered at Whitby for a meeting presided over by King Oswy of Northumbria and the Abbess Hilda of Whitby.  It was quite literally a pivotal moment for the early Church and the north more widely.  The matter at hand was whether Northumbrian Christianity, then centred on the Holy Island of Lindisfarne, should remain orientated towards Celtic Christianity, which had as its principal focal point the abbey of Iona, or whether to turn towards Rome and its growing mission in the south, headquartered in Canterbury.  North or south?  Canterbury or Iona?   

In the end, the group opted for closer links with the Roman Church.  Yet the Christian faith in the north remained distinctive, blending the older influences of St Columba and St Aidan with the new ones coming up from the south.  Lindisfarne Priory remained a centre for Christian life in the north and its prestige led it to accumulate the wealth that eventually precipitated its own destruction by Viking raids in 793 AD. In spite of this, the northern saints drew reverent pilgrims for centuries to come, as the grandeur and scale of Durham Cathedral, the burial place of St Cuthbert, testifies to this day. 

Behind the independent northern spirit lies a long history of political, economic and spiritual divergence from the south. Northern spirituality is characterised by a sustained distinctive flowering of the Christian faith that intertwines itself with the social identity of the peoples and places of the north.  The region’s response to the religious reforms of Henry VIII was the Pilgrimage of Grace, which protested both his break from the Roman Catholic Church and socio-economic policies implemented by the king and his chief minister, Thomas Cromwell.   

By the seventeenth century, faith in the north had taken on a distinctly reformist hue as non-conformism – that is, churches and sects not aligned with the Church of England, the Church of the state and the establishment – flourished in the region. The beginnings of the Quaker movement can be traced to an open-air sermon given by the reformer George Fox in 1652 on Firbank Fell, near Sedburgh in modern Cumbria - the crag he spoke from is still known as Fox’s pulpit - while other reformist movements, including Methodism, Congregationalism and Presbyterians, also drew increasing crowds with their passionate preaching in fields, moors and disparate farming communities. 

The very landscape of northern England, often challenging and remote, drew its inhabitants away from both socio-political centres and the established Church, nurturing forms of belief in the seventeenth and eighteenth centuries which were as independent as those of seventh- and eighth-century Northumbria. Much of religious life in the region was organised around a large parish church that served numerous small communities spread across a large area.  Living at such distances, no wonder people felt a disconnect from the parish church and the national Church it represented. Non-conformist chapels and meeting houses quickly spread across the landscape, particularly in remote villages outside of the control of major landowners and Church authorities. As David Petts argues, the building of chapels expressed the collective economic and organisational independence of rural labourers and miners, and united dispersed communities through collective endeavour. 

The region has proved itself capable of delivering considerable shocks to the London political establishment. 

Once the chapel was built, they would prove valuable training grounds for rethinking the political organisation of the poor; the significance of non-conformism thus lay not only in its spiritual divergence from the establishment, but also in its fostering of alternative political systems. Methodism in particular was to provide an ideological and practical template for mass movements such as Chartism, which campaigned for social reform and an expansion of democratic suffrage in the mid-nineteenth century. Chartist campaigners called themselves ‘missionaries’ and crisscrossed the country preaching ‘the gospel of Chartism’ and forming Chartist congregations. Their political vision found a receptive audience in the working population of the industrialised north, who were raised on the non-conformist emphasis on Christ as the carpenter’s son and a poor man, one who worked for his living as they did. Towards the end of the nineteenth century, the non-conformist social Gospel produced notable reformers such as the journalist W. T. Stead, born  in rural Northumberland as the son of a Congregationalist minister, and the Quaker confectioner Joseph Rowntree of York. 

Amidst the darkness, grime and crushing conditions of nineteenth-century mills and mines, the Christian message of mutual aid and fellowship, first articulated by the early Church, again found expression. In Manchester, the Methodist Central Hall served a dual purpose, providing a space for worship on Sundays and a community space during the week, when it offered libraries, food, clothing, shelter, childcare and even entertainment to the people of the city. 

Social reform and the Christian faith buttressed one another across the region and together resisted the fractures, pressures and degradations that industrialisation exerted on the communities they served. The social values of these interdependent movements left a lasting impact on the modern political landscape of the region, until recently known as Labour’s ‘Red Wall’. As any political correspondent will tell you, northern politics can no longer be taken for granted and the region has proved itself capable of delivering considerable shocks to the London political establishment.  Walking through these communities, left behind by deindustrialisation, globalisation and our periodic post-crisis recoveries, the air seems pervaded by a sense of unravelling as the old bonds and certainties slowly slip-away. The Church is not immune to these processes and the north follows the overall national trend of declining church attendance. The empty chapels testify as much to the seismic shifts taking place in the region as the empty warehouses and factories. 

But if the history of Christianity in the north tells us anything, then it is that northern spirituality has never stood still. It has an ingenious capacity to adapt, to regenerate itself to meet the challenges faced by each generation. The challenges are varied and specific to each community, but the Church is there. In Burnley, the fight of the early disciples against urban poverty is echoed in the work of the Church on the Street, whilst on Holy Island itself, the Parish Church of St Mary the Virgin is a driving force behind the Holy Island 2050 project, which aims to assure the sustainability of the Island community in the face of depopulation and rural precarity. 

If the dominant atmosphere in the north is one of feeling left behind, then the Christian call to reach out to those around us is needed more than ever. More than one thousand years separate St Aidan from us, but the Christian faith can still help the us to navigate the challenges and precarities of a changing world.

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Graham Tomlin
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