John Wesley, the founder of Methodism, was a man of profound spiritual insight and practical wisdom. Among his many teachings, his views on money stand out for their clarity and relevance. Wesley famously advised, “Gain all you can, save all you can, give all you can,” a concise yet powerful framework for economic behavior that balances ambition, stewardship, and generosity. If Wesley were alive today, it is reasonable to imagine him embracing Bitcoin—not as a speculative asset, but as a transformative financial technology aligned with his principles.
1. Transparency and Stewardship
Wesley emphasized integrity and stewardship in economic matters. In his sermon “The Use of Money,” he warned against gaining wealth through unjust means, such as fraud or exploitation. Bitcoin’s decentralized and transparent ledger, the blockchain, exemplifies these principles. It removes the need for intermediaries and ensures that transactions are recorded openly, reducing the likelihood of corruption or deceit. For Wesley, who valued honesty and accountability, this system might resonate as a modern method of promoting financial integrity.
2. Empowering the Poor
Wesley had a heart for the marginalized, often advocating for the poor and calling on the wealthy to use their resources to uplift others. Bitcoin’s permissionless nature aligns with this ethos, offering financial access to those excluded from traditional banking systems. In developing regions, where high fees and lack of access to financial institutions hinder economic growth, Bitcoin provides an alternative that could enable individuals to save, transact, and participate in the global economy. This democratization of finance would likely appeal to Wesley’s vision of empowering the vulnerable.
3. Caution Against Excess
While Wesley encouraged gaining wealth, he was quick to warn against the dangers of materialism and greed. He urged Methodists to live simply and avoid the snare of loving money for its own sake. Bitcoin, when used responsibly, can serve as a tool for preserving wealth rather than indulging in consumerism. Its limited supply (21 million coins) inherently resists inflationary practices, encouraging savings and long-term thinking. Wesley might see Bitcoin as a mechanism for avoiding the wasteful tendencies he often criticized.
4. Advocacy for Ethical Wealth
Wesley’s teaching to “save all you can” included a call to avoid wasting resources on unnecessary luxuries. Bitcoin’s ethos of decentralization and self-sovereignty aligns with a disciplined approach to managing wealth. Moreover, Wesley’s admonition to “give all you can” aligns with the ethos of Bitcoin philanthropy, where individuals can send funds globally, instantly, and without intermediaries. The ability to directly support causes would likely appeal to Wesley’s advocacy for ethical and impactful giving.
5. Challenging the Status Quo
Wesley was not afraid to challenge the established norms of his time, particularly in matters of faith and morality. Similarly, Bitcoin challenges the entrenched systems of central banking and fiat currency, questioning their fairness and sustainability. Wesley’s spirit of reform might resonate with Bitcoin’s mission to create a more equitable and transparent financial system.
Conclusion
John Wesley’s teachings on money reveal a deep concern for justice, stewardship, and generosity—values that find a surprising resonance in Bitcoin’s principles. While Wesley might not embrace the speculative aspects of cryptocurrency culture, he could see Bitcoin as a tool for promoting financial integrity, empowering the marginalized, and enabling ethical economic practices. In an age where financial systems often fall short of these ideals, Bitcoin offers a decentralized alternative that aligns with Wesley’s timeless wisdom.
Prompts: Dave Norfleet