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Bitcoin’s Resistance to the cult of personality

Technology’s history is deeply intertwined with the cult of personality phenomenon. Apple’s rise was driven by a passionate and sometimes controversial founder. Mark Zuckerberg, Bill Gates and Jack Dorsey have left a similar legacy at their respective companies. 

This idolatry of individual entrepreneurs and passionate creators isn’t restricted to Silicon Valley. Henry Ford, JP Morgan and Warren Buffett have arguably created cults of personality too. These lionized individuals help drive the enterprise forward by attracting talent and capital while warding off detractors. In some ways, they’re all examples of exceptionally successful leadership. 

However, Bitcoin has so far resisted this cult of personality. Users and developers in the community don’t identify anyone as a clear leader of the movement. In some ways, this lack of a cult of personality has helped the ecosystem become more robust, decentralized and meritocratic. 

A leaderless movement

The fact that Bitcoin’s creator, Satoshi Nakamoto, is an anonymous individual could be part of the reason why the community has resisted mascots or leadership from other sources. 

Although there are some influential members of the community, including Anthony Pompliano, Barry Silbert, Michael Novogratz, Balaji Srinivasan and Michael Novgratz, none of the influencers are ever insulated from fair criticism. This approach to open debate was on full display last week, when the community confronted perhaps the most influential Bitcoin hodler of them all – Elon Musk. 

Shortly after Musk published a statement saying Tesla would no longer accept BTC payments for its vehicles, Peter McCormack called him out by saying his criticism was “poorly informed.” This sparked a debate that drew in experts such as Kraken’s Dan Held and Coin Metrics co-founder Nic Carter. Anthony Pompliano tweeted his disappointment by saying “never meet your heroes.” 

The rebuttal of the world’s third richest man and a bonafide tech innovator reinforces the Bitcoin community as truly leaderless. Actions and ideas are given precedence over personality and status. That makes the ecosystem larger than any one person and, perhaps, more durable.

The lack of a clear leader may also make the digital asset more acceptable across national and cultural boundaries. Bitcoin has already gained adoption in Nigeria, Turkey, India and even North Korea. Being politically and ideologically neutral may be a core reason for the asset’s unprecedented success across the world.  

Final thoughts

Most revolutions have a clear leader. However, the digital assets revolution triggered by Bitcoin has remained decentralized since inception. The pseudonymous creator vanished from the public debate years ago, and since then the mission to spread BTC across the planet has been driven by early adopters and passionate developers. 

This resistance to a figurehead is part of Bitcoin’s decentralization and, perhaps, part of its appeal for some users. 

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