The story of Bitcoin has the Uranus square Pluto story written all over it. Pluto entered Capricorn in 2008 and began to turn the structures of our life (Capricorn) upside down, tearing down our economy so that it can be rebuilt. Of course our economy didn’t actually break down and it’s not being rebuilt in a healthier way. In fact, things are progressing pretty much as they did before the Great Recession which means that we are heading for ANOTHER breakdown. If a tornado (Pluto) tears down your home because it sits on a weak foundation (Capricorn), and you rebuild your house the exact same way, you can’t really expect a different result. Uranus represents new ways of doing things, and it also represents technology.
Uranus is in Aries right now where it is radicalizing individuals and forging fresh new ways of innovating our society. Because it is in a challenging aspect to Pluto in Capricorn right now, these fresh new ways are challenging the old ways and potentially leading us to radically different forms of business entities, family structures, and money.
One such radically different forms is the Bitcoin, a form of currency that lives exclusively on the Internet. There are no actual coins, and the value of the Bitcoin isn’t tied to anything tangible. It isn’t administered by any state or nation (Capricorn). It is a purely Uranian form of currency. It’s an interesting “coincidence” that Bitcoin was originally conceived in 2008 when Pluto entered Capricorn. But its use as actual currency didn’t begin until Uranus entered Aries in 2010 and began the square to Capricorn. Of course, our whole financial system is not that different from Bitcoin. In our family we hardly ever see any real currency. Our salary is automatically deposited into our account. Our bills are automatically drafted. We pay for everything with a credit card and then pay the credit card every month online from our bank account. Our financial world is already on the Internet. The fact is, as the Onion pointed,out, “money is, in fact, just a meaningless and intangible social construct.” At one time our currency was actually tied to gold and silver, and the dollar bills were a representation of a tangible currency that had intrinsic value. But in today’s world, money is just an idea – an agreement that something has value.
On March 18 of this year a division of the US Treasury, the Financial Crimes Enforcement Network, attempted to assert control (Pluto in Capricorn) over this independent currency (Uranus in Aries), something that Bitcoin is resisting. Meanwhile, the aggregate value of Bitcoin is now somewhere around $1 billion and the currency is in somewhat of a bubble. Hedge fund investors are seeking out Bitcoin plays. When the financial establishment (Pluto in Capricorn) takes ownership of Bitcoin (Uranus in Aries), the currency will lose its anti-establishment qualities and become a part of the stodgy status quo. This will help Bitcoin to succeed as a market currency, but at the cost of losing its independence – the classic Aries/Capricorn dilemma.