[Recommend my two-volume book for more reading]:
BIT & COIN: Merging Digitality and Physicality
Dr. Craig Wright calls BTC a religion and gives an insightful analysis.
But calling BTC a religion lends a bit too much credit to it. Not that religion is good, but BTC is worse.
Religion is counterfeit faith.
True faith is based on the revelation of the higher realm (the invisible spiritual realm). In contrast, religion, even in its honest form, is based on dogmatism extracted from killed (dead) revelation of the higher realm. That is, religion kills living revelation of the spiritual realm to suit man’s mind and flesh.
But honest religion is at least typically moral, because it aims to mimic the higher realm of the real truth.
Then there is cult. Cult is fake religion. It is not based on honest morality but on the personal interests and benefits of the cult leaders. Cults rely upon people’s ignorance.
Then there are scams, which are similar to cults because scams also exploit people’s ignorance, except that cults are more personal while scams are more utilitarian.
But the worst scams, such as Ponzi schemes, exploit not only victims’ ignorance but also their greed, making these scams more popular than a cult in its purer form.
BTC is a case study. It is a combination of a cult and a scam. Cult because it is based on dogmatized and ideologically elevated narratives that are deliberately separated from reality to avoid reality check; Scam because it has all the major characteristics of a Ponzi scheme (see: Is Bitcoin (BTC) a Ponzi Scheme?).
For this reason, calling BTC a religion seems to give it more credit than it deserves.
So it is a combination of a cult and a scam. A quite amazing one for that. It has had some marvelous effects characteristic of a kind of illusion that reaches the biblical end-time level.
[Recommend my two-volume book for more reading]: