Cryptocurrency company uses Rothschild conspiracy theory in marketing campaign

A cryptocurrency company has used a Rothschild conspiracy theory in a marketing campaign, it was reported last week. 

The British fintech company, Crypterium, sent out a customer e-mail that contained a quote which has been falsely attributed to the 18th-century Jewish banker, Baron Rothschild.

The line that was used by the company, “The best time to buy bitcoin is whenever blood is on the street, everyone is panicking and no one’s talking about it,” is a variation on the classic trope, “The time to buy is when there’s blood on the streets, even if the blood is your own.”

The line is attributed to Baron Rothschild who is falsely accused of having exploited the public’s panicked state after the Battle of Waterloo in order to turn a profit. However, the line and the story have since been debunked as without foundation and inspired by anti-Jewish hatred, and at one point were even weaponised by the Nazis to spread hatred towards Jews.

George Krasukhin, the Chief Marketing Officer for Crypterium, who is himself Jewish, said: “It is not related to antisemitic theme[s] at all. It was the quote from one of the richest [men] on the earth.”

A spokesperson for Campaign Against Antisemitism said: “Rather than simply using clichéd phrases without a second thought, marketers should research where the phrases come from and why they become cliches. Using a classic antisemitic trope associating Jews, Rothschilds and money is an inappropriate and insulting way to promote a financial product. The campaign should be withdrawn with an apology and the company must think again.”