The Most Surprising Bitcoin and Crypto Revelations in the Epstein Files
The massive document dump from the U.S. Department of Justice on Jeffrey Epstein did more than reopen questions about power, money, and influence. Buried inside millions of pages are repeated references to Bitcoin and the wider crypto ecosystem—revealing that Epstein was not only aware of digital assets, but engaged with some of the industry’s biggest names and earliest projects.
What emerges from these papers is a picture of an individual who recognized crypto’s potential early, explored it as an investment and narrative tool, and interacted with founders, investors, and companies that would later become central pillars of the industry.
Early Awareness of Bitcoin and Major Crypto Projects
Searches through the files show thousands of hits for “Bitcoin,” “crypto,” and related terms. Far from being a passive observer, Epstein appears to have followed the rise of digital currencies at a surprisingly early stage, tracking the development of flagship protocols and startups.
The documents suggest that he didn’t just monitor prices or headlines. He wanted to understand how Bitcoin might reshape finance, how alternative protocols could challenge existing systems, and where he could position himself within this emerging landscape. That meant direct contact with entrepreneurs and investors who were building the infrastructure of the crypto economy.
Epstein’s Investment in Coinbase
One of the clearest examples of his involvement is a documented investment in Coinbase, the U.S.-based crypto exchange that would eventually go public and become one of the industry’s most recognizable brands.
According to the files, Epstein either personally or through related entities allocated capital to Coinbase when it was still in its growth phase, long before it became synonymous with mainstream crypto adoption. This suggests that he had access to the same high-upside early-stage deals as elite venture capital funds and Silicon Valley insiders.
The motivation was likely both financial and strategic: an early stake in the leading U.S. on-ramp to Bitcoin and other digital assets offered both potential huge returns and insight into how the retail and institutional markets were evolving.
Blockstream: Betting on the Bitcoin Infrastructure
The files also show that Epstein backed Blockstream, a company deeply embedded in Bitcoin’s technical and ideological core. Blockstream is known for its focus on Bitcoin infrastructure, including sidechains, scaling solutions, and tools aimed at reinforcing Bitcoin’s role as a base-layer monetary system.
This is a far more targeted bet than buying a coin on an exchange. It implies that Epstein—or the advisors and technologists around him—understood that the real leverage in a nascent industry often sits at the infrastructure layer. Supporting a company like Blockstream meant aligning with a vision of Bitcoin not just as a speculative asset, but as the backbone of a new financial architecture.
A Close Relationship with Tether Co-Founder Brock Pierce
Among the most striking details in the files are references to Epstein’s “very close” relationship with Brock Pierce, a controversial but influential figure in crypto and a co-founder of Tether.
Tether’s stablecoin has grown into one of the most systemically important assets in the crypto ecosystem, serving as a de facto dollar substitute across exchanges and DeFi protocols. While the Epstein files primarily cover earlier years, they show that long before Tether reached its current scale, Epstein was already connected to one of its key architects.
Their interactions appear to go beyond a casual acquaintance. The documents suggest repeated contact, mutual projects, and discussions that link Epstein’s capital networks with Pierce’s position in the digital-asset world. That connection raises difficult questions about who helped finance what, and how early Epstein’s money might have intersected with the infrastructure underpinning today’s stablecoin economy.
Conversations with Peter Thiel About the “Bitcoin Narrative”
The documents also describe conversations between Epstein and billionaire investor Peter Thiel, in which Bitcoin is discussed not just as a technology, but as a story—a narrative with geopolitical, economic, and cultural consequences.
These discussions reportedly touched on how Bitcoin could function as:
– a hedge against central bank policies
– a tool for capital flight from weak jurisdictions
– a symbol of resistance to state control over money
What stands out is the framing: Bitcoin is treated less like a niche tech experiment and more like a narrative weapon—something that could shape public perception of money, risk, and power. Epstein’s interest in that narrative dimension matches his broader pattern of trying to influence elites, ideas, and systems rather than simply chasing returns.
Bitcoin, Crypto, and Taxes
The files contain various references suggesting that Epstein’s interest in crypto was also tied to tax strategy and capital mobility. While details are fragmented, internal notes and correspondence indicate he explored the implications of:
– realizing gains on early crypto positions
– using digital assets within complex international structures
– understanding how regulators might treat Bitcoin and other tokens for tax purposes
In some contexts, crypto is presented as a tool that could fit neatly into the kind of offshore and cross-border arrangements Epstein was already associated with. This does not prove specific schemes, but it underscores why someone embedded in global finance and secrecy would pay close attention to a censorship-resistant, borderless asset.
A “Better” Vitalik Buterin?
One of the more peculiar threads in the documents is the idea, mentioned in internal discussions, of finding or supporting a “better” version of Vitalik Buterin, the co-founder of Ethereum.
The phrase appears in the context of evaluating talent and projects in the smart contract and protocol space. Rather than expressing admiration for Ethereum alone, Epstein’s circle appears to discuss whether there might be a more controllable, more commercially aligned, or more “optimized” figure who could lead an alternative platform or derivative ecosystem.
This does not mean a literal attempt to clone Ethereum or engineer a rival chain from scratch. It does, however, reveal the mindset: looking at crypto protocol founders as assets—brilliant but potentially steerable individuals who could be backed, shaped, or replaced to fit the goals of powerful financiers.
Criticism of Michael Saylor
Another surprising detail is the negative tone directed at Michael Saylor, the CEO of MicroStrategy and one of Bitcoin’s most visible contemporary champions.
Although Saylor’s massive Bitcoin accumulation took place later, the files include earlier critiques of his ethics and judgment. Some documents refer to him in an unflattering light, challenging either his decision-making or his approach to business.
This is notable because Saylor is now seen as one of the institutional faces of Bitcoin. The Epstein files portray a very different perception from at least some corners of the elite financial world—one in which his behavior and ethics were openly questioned, even as he operated in adjacent circles of capital and technology.
Questionable Ethics and Crypto as a Tool
Threaded through all of these stories is a recurring theme: crypto appears in the documents not as a liberation technology, but as another potential instrument in the hands of people with deeply questionable ethics.
– Investments in Coinbase and Blockstream show interest in high-leverage, high-influence points in the ecosystem.
– Ties to Brock Pierce hint at early intersections with the stablecoin machinery.
– Discussions about narrative and taxes present Bitcoin as a lever to be pulled in service of wealth preservation, influence, and control.
For an industry that often markets itself using ideals of transparency, decentralization, and empowerment, the fact that someone like Epstein was both paying close attention and taking positions in core companies adds a darker layer to the story of crypto’s rise.
What This Means for Crypto’s Origin Story
These revelations do not invalidate the technology or the genuine innovation that drove Bitcoin and other protocols. But they complicate the notion of a purely grassroots, outsider revolution.
The Epstein files suggest that:
– elite capital spotted crypto’s potential much earlier than many assumed
– controversial figures quietly took stakes in foundational companies
– the ideological narrative of crypto was being examined—and potentially weaponized—by people far from the cypherpunk ethos
For researchers, historians, and regulators, that means revisiting who exactly shaped the early infrastructure of digital assets and how hidden funding networks may have influenced its direction.
Lessons for Today’s Crypto Industry
For the current generation of crypto entrepreneurs and investors, the Epstein documents serve as a stark reminder:
1. Capital always has a cost. Money from opaque or ethically compromised sources can entangle a project for years, even if the technology is sound.
2. Narratives can be co-opted. Ideals like “financial freedom” and “decentralization” are powerful, but they can be repackaged to serve the interests of the very elites they were meant to challenge.
3. Transparency is strategic, not just moral. Clear cap tables, open governance, and rigorous compliance can help shield legitimate projects from being retroactively tainted by association with bad actors.
4. Early involvement matters. Who funds the first stages of a protocol or platform can influence everything from technical priorities to regulatory posture.
The Unfinished Story
The current document release likely does not represent the full universe of Epstein’s financial activities, and many details around specific crypto deals remain redacted, incomplete, or ambiguous. However, what is already visible is enough to reshape assumptions about who touched the levers of crypto’s early institutionalization.
Bitcoin and digital assets were never operating in a vacuum. They emerged in a world where shadow banking, offshore finance, and concentrated power were already deeply entrenched. The Epstein files show just how quickly some of those worlds overlapped.
As more material is analyzed, the crypto industry will have to confront not only the technical and regulatory challenges of the future, but also the uncomfortable question of who, exactly, was standing behind the curtain in its formative years.