'God Bless Bitcoin': Upcoming Documentary Delves Into $BTC's 'Moral' Aspects Amid Market Volatility

A new documentary film titled "God Bless Bitcoin" is making waves on social media, as the trailer included statements about the possible impacts of the world's top digital asset by market value on moral and ethical beliefs.

A 'more just' alternative

"God Bless Bitcoin takes a deep dive into the moral and ethical aspects of Bitcoin and the impact that this money can have on the world," the team behind the documentary wrote on X (formerly Twitter) when they posted the trailer Tuesday.

The documentary film's website goes on to state that the film "ultimately suggests the ways in which Bitcoin can present alternatives to our current system that are more just, equitable, and peaceful."

What is Bitcoin?

The trailer features some key figures in the financial realm and other participants who shared their insights and views of $BTC, including prominent hedge fund manager Mark Yusko, who said the digital currency "is truth." Another participant says the community driving Bitcoin forward "is like a good church."

MicroStrategy founder and executive chairman Michael Saylor said that "because it's an ethical ideology, there are many people that feel very spiritual about it."

One participant said he thinks $BTC has the potential to become "the most Jewish and the most Christian form of money." Another said Bitcoin is "just another step in the technological development of how we can serve God better."

Bitcoin and religion

This is not the first time the world's first decentralized cryptocurrency has been associated with religion. In 2022, Assistant Professor of Religious Studies at the Texas State University, Joseph Laycock, wrote that "there is no reason that a religion cannot also be an investment, a political system or nearly anything else."

He noted that while comparisons between Bitcoin and religion cannot ultimately prove that the "movement" around the digital currency is a religion, comparing the coin to religion may help others understand why $BTC is an attraction to an increasing number of people "in ways that would not be possible if Bitcoin were approached as a purely economic phenomenon."

Crypto community reacts

Following the trailer's release, there has been an outpouring of support from crypto holders and Bitcoiners, but at least one user raised concern over what he said was the government's dislike for people and movements with much influence. "Paradigm shift is scary for those in power."

A form of saving grace?

The trailer's release comes at a time when market sentiment around the digital coin has just started to shift, following weeks of a downtrend in $BTC prices.

Ryan Lee, chief analyst at Bitget Research, told International Business Times that Bitcoin has effectively recovered the 4% decline it suffered over the weekend, but market volatility remains high. "Despite the slight recovery, heightened volatility in the market persists – and what drives it are the concerns over potential selloffs by creditors of MtGox. Earlier this week, news around Germany's rapid liquidation of seized crypto estimated to be $2.2 billion in Bitcoin through major exchanges also contributed to market uncertainty," Lee said.

Bitget Research's Monday report noted that there is a chance for the Bitcoin ecosystem to achieve "exceptional returns." That is, if an upward trend is seen in the broader market.

With the documentary film's official release on July 25, and Bitcoin reclaiming $58,000 on Tuesday, frustrated holders may see some relief and an upswing in prices may finally regenerate a community praying for a new all-time high.