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Wikileaks in Bitcoin Windfall2 min read

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Wikileaks founder Julian Assange has announced that the whistle blowing organization has practically stumbled on a treasure trove as a result of the United States’ government decision to blockade it from using traditional financial services such as PayPal, Visa and MasterCard in 2010.

Assange in a tweet expressed deepest gratitude to the American Government, and Senators McCain and Lieberman for erecting what he describes as an illegal blockade, a financial embargo that forced it to turn to Bitcoin at the time as source finance. Assange revealed that the organization’s Bitcoin holding has appreciated with a stupendous 50000% over that a period of 5 to 6 years.

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The blockade on Wikileaks came in the wake of its release of classified intelligence and diplomatic documents with a main focus on Iraq and Afghanistan, a historic leak that would cause the United States unprecedented embarrassment around the world. Though at the start Wikileaks’ adoption of the cryptocurrency was met with some resistance from the community which feared it would bring with it a heat that could possibly kill Bitcoin in its infancy. Bitcoin creator Satoshi Nakamura himself expressed reservations at the idea, fearing possible backlash on the fledgling cryptocurrency at time. As a result Wikileaks had to postpone its formal adoption of the cryptocurrency for another year.

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Wikileaks stated accepting Bitcoins as donations when the cryptocurrency was still trading at $10. It has since skyrocketed recently trading at a record $5920 on Bitfinex. The dramatic surge follows considerable dip this year which was triggered by the Chinese government’s crackdown on ICOs and cryptocurrency exchanges in the country whose investors are some of Bitcoin’s biggest backers.

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With Assange still holed up in the Ecuadorian Embassy on threat of arrest from British Authorities, Wikileaks will need all the Bitcoins it can get to keep running as an organizations, as governments led by the United States have drawn battle lines that threatens its continuous existence

 

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