Cryptocurrency’s Shift Toward Centralisation: A Marxist Analysis of Capital Accumulation in the Digital Age

Cryptocurrencies emerged as decentralised alternatives to traditional financial systems, promising autonomy from state and corporate control. However, this paper argues that the rapid concentration of wealth, institutional adoption, and reliance on centralised infrastructures signal a shift toward centralisation. Using a Marxist framework, the study examines how processes of capital accumulation, class power, and financialisation undermine the original emancipatory ideals of cryptocurrency. The analysis highlights that rather than disrupting capitalism, cryptocurrencies increasingly replicate its hierarchies, intensifying inequality in the digital economy.