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Here's How Much Bitcoin Has Surged Since Julian Assange's WikiLeaks Took Refuge In The Cryptocurrency After Visa, MasterCard and PayPal Pulled The Plug

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Here's How Much Bitcoin Has Surged Since Julian Assange's WikiLeaks Took Refuge In The Cryptocurrency After Visa, MasterCard and PayPal Pulled The Plug

WikiLeaks founder Julian Assange, is set to return to his home country Australia as his long-running legal struggle with the U.S. government comes to a close. 

As he walks out as a “free man,” we examine the famed whistleblower’s connections to Bitcoin and how the digital currency came to his rescue during difficult times. 

What Happened: Wikileaks was censored by the administration over its damning report on the military campaigns in Iraq and Afghanistan. Under pressure from the authorities, financial giants like PayPal, Visa, and MasterCard imposed a financial blockade, cutting a substantial part of the company’s revenue. 

Left with no choice, Bitcoin was used to circumvent the banking ban. In June 2011, Wikileaks posted a Bitcoin address on Twitter, now X, appealing for donations. 

WikiLeaks now accepts anonymous Bitcoin donations on 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v

Jun 14, 2011

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The appeal was met with a lot of fervor, with up to 171 Bitcoins transferred to Wikileaks in the first week itself. During this time, one Bitcoin was valued at $20.96, meaning that the company raised $3,584 in total.

See Also: 54% Of Japanese Institutional Investors Plan To Invest In Crypto In The Next 3 Years

Thirteen years later, Bitcoin has matured into one of the world’s most valuable financial assets, with one Bitcoin being worth $61,636.87. This means that the 171 Bitcoins raised in the first week will be worth more than $10 million today, a whopping 2940x leap. 

Why It Matters: Julian Assange has long been a Bitcoin bull, explaining in one of his interviews with former Google CEO Eric Schmidt how the currency’s scarcity will increase its value over time. 

Aside from the financial benefits, Assange has complimented Bitcoin’s underlying decentralized technology, which is censorship-resistant and a powerful weapon against the monopoly of a few Internet businesses. 

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In other news, Assange’s wife Stella Assange, made an emergency plea to cover the cost of his flight back home, which is worth $520,000. Apparently, the donations can be made via credit/debit card payments and also Bitcoin.

URGENT: Emergency appeal for donations to cover massive USD 520,000 debt for jet.

Julian’s travel to freedom comes at a massive cost: Julian will owe USD 520,000 which he is obligated to pay back to the Australian government for charter Flight VJ199. He was not permitted to fly… pic.twitter.com/J6sTbXij53

Jun 25, 2024

Read Next: Chipmakers, Cruise Lines, Crypto Rally, Nvidia Reclaims $3 Trillion; Blue Chips, Small Caps Dip: What’s Driving Markets Tuesday?

Price Action: At the time of writing, ADA was exchanging hands at $0.3918, rising 1.02% in the last 24 hours, according to data from Benzinga Pro.

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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Crypto

Bitwise Turns ‘Really Bullish’ on Ethereum and Solana as Stablecoins Drive Structural Demand Shift

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Bitwise Turns ‘Really Bullish’ on Ethereum and Solana as Stablecoins Drive Structural Demand Shift
Bitwise says shifting crypto narratives are really bullish for Ethereum, Solana, and stablecoins, citing structural demand, ETF accumulation exceeding issuance, and regulatory momentum that could drive the market’s next growth phase into 2026 and beyond.
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Summit County Sheriff’s Office recovers over $100,000 in cryptocurrency investigation

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Summit County Sheriff’s Office recovers over 0,000 in cryptocurrency investigation

SUMMIT COUNTY, Ohio (WOIO) – A City of Green resident reported being the victim of a cryptocurrency investment fraud in early October, resulting in a significant financial loss and opening an investigation.

The Summit County Sheriff’s Office Detective Bureau initiated an investigation utilizing detailed information and financial records provided by the victim.

According to a release from the sheriff’s office, there was assistance from Jackson Township Police Department’s cryptocurrency recovery “Trace Team” and detectives were able to successfully trace and recover $110,000 of stolen funds.

The sheriff’s office reminds the public to remain alert regarding cryptocurrency investment scams and fake investment platforms.

These schemes often begin by encouraging small initial investments that appear to generate returns, creating a false sense of credibility.

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The sheriff’s office said once trust is established and larger investments are made, the funds are frequently transferred and become inaccessible.

For public safety, people are encouraged to thoroughly search any investment opportunity and exercise caution when dealing with unsolicited or online investment platforms.

The release from the sheriff’s office says that if anyone believes they may be a victim of cryptocurrency or investment fraud, they should immediately contact their local law enforcement agency and file an online complaint with the FBI’s Internet Crime Complaint Center at www.ic3.gov.

The Summit County Sheriff’s Office said it remains committed to protecting the community and working with partner agencies to investigate and combat financial crimes.

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Bitcoin Mining Promises Under Fire as SEC Alleges $48.5M Investor Funds Were Misused

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Bitcoin Mining Promises Under Fire as SEC Alleges .5M Investor Funds Were Misused
Federal regulators are tightening the vise on crypto investment schemes, spotlighting alleged fraud tied to bitcoin mining that raised nearly $100 million while misleading thousands of investors about operations, capacity and the use of their money.
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