Naval Ravikant Says Crypto Will Replace ‘Socialist’ Fiat Money With Free-Market System, But Here’s The Other Side
Posted On November 17, 2025
Renowned venture capitalist and influencer Naval Ravikant on Sunday described cryptocurrencies as free-market technology that would eventually replace the “socialist” fiat system.
Free Markets Over ‘Socialist System?’
In an X post, Ravikant referenced the Nixon Shock of 1971, when President Richard Nixon ended the dollar’s convertibility to gold.
This, he argued, marked a transition from a “natural system” where the dollar was pegged to a scarce commodity to a “socialist system” backed by the government’s authority and credibility.
“Crypto is tech to replace socialist money with a free-market system,” Navikant stated.
The AngeList co-founder added that market systems are “inherently competitive” and new forms of money will continue to emerge to “challenge” incumbents.
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