Canadian psychologist and best-selling author, Dr. Jordan Peterson, weighed in on the “unbanking” movement and the potential of Bitcoin (CRYPTO: BTC) as a tool to disrupt traditional banking systems.

What Happened:  In a post on X (formerly Twitter), where he has amassed over 4.6 million followers, Peterson expressed his thoughts on the matter.

The catalyst for Peterson’s post was a news report from Australia, which highlighted Macquarie Bank’s decision to eliminate cash, cheque, and phone payment services at its branches. This prompted Peterson to suggest that people should consider abandoning traditional banks, questioning whether Bitcoin could serve as a viable alternative for those seeking a cash-like experience with their finances.

“Maybe it’s time to scrap Banks. Could Bitcoin fix this?” he tweeted on September 14.

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Why It Matters: Peterson has shown interest in becoming a part of the Bitcoin Lightning Network. This comes after he was challenged by Joe Nakamoto, a journalist and an X user, to disclose his Bitcoin lightning address instead of using GoFundMe for fundraising.

Peterson had initially tweeted a GoFundMe page seeking financial assistance for a fire victim who had experienced significant losses. Nakamoto proposed the idea of creating a lightning address, which would enable people from around the globe to make donations, even if they don’t have debit or credit cards.

Price Action: At the time of writing, BTC was trading at $26,646.14, up 0.43% in the last 24 hours, according to Benzinga Pro.

Photo Courtesy: Tony Norkus On Shutterstock.com

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